Flaherty & Crumrine Preferred Income Opportunity Fund Inc. Announces Monthly Dividend of $0.05 (NYSE:PFO)

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) declared a monthly dividend on Thursday, October 19th, NASDAQ reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.045 per share on Thursday, November 30th. This represents a $0.54 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend is Tuesday, November 21st.

Flaherty & Crumrine Preferred Income Opportunity Fund has increased its dividend payment by an average of 0.0% per year over the last three years.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Up 0.8 %

Shares of Flaherty & Crumrine Preferred Income Opportunity Fund stock traded up $0.06 during trading hours on Friday, hitting $7.71. The company’s stock had a trading volume of 35,993 shares, compared to its average volume of 27,714. Flaherty & Crumrine Preferred Income Opportunity Fund has a 12 month low of $6.90 and a 12 month high of $9.79. The stock has a 50 day moving average of $7.30 and a 200 day moving average of $7.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PFO. Raymond James & Associates boosted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 178.2% in the 1st quarter. Raymond James & Associates now owns 57,807 shares of the company’s stock worth $665,000 after purchasing an additional 37,027 shares during the period. Logan Stone Capital LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth about $228,000. Private Advisor Group LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 158.8% during the first quarter. Private Advisor Group LLC now owns 38,828 shares of the company’s stock worth $447,000 after buying an additional 23,825 shares in the last quarter. Cerity Partners LLC acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund in the 1st quarter valued at approximately $166,000. Finally, PNC Financial Services Group Inc. lifted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 100.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 33,920 shares of the company’s stock valued at $272,000 after acquiring an additional 16,960 shares in the last quarter. Institutional investors and hedge funds own 8.79% of the company’s stock.

About Flaherty & Crumrine Preferred Income Opportunity Fund

Flaherty & Crumrine Preferred Income Opportunity Fund Inc is a closed ended equity mutual fund launched and managed by Flaherty & Crumrine Incorporated. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the financial services sector.