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

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO – Get Rating) declared a monthly dividend on Tuesday, January 24th, Wall Street Journal reports. Shareholders of record on Friday, April 21st will be paid a dividend of 0.05 per share on Friday, April 28th. This represents a $0.60 annualized dividend and a yield of 6.38%. The ex-dividend date is Thursday, April 20th.

Flaherty & Crumrine Preferred Income Opportunity Fund has decreased its dividend by an average of 1.7% per year over the last three years.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $9.41 on Wednesday. The company’s 50-day moving average price is $9.12 and its 200-day moving average price is $9.24. Flaherty & Crumrine Preferred Income Opportunity Fund has a 12-month low of $8.20 and a 12-month high of $12.10.

Institutional Trading of Flaherty & Crumrine Preferred Income Opportunity Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 178.2% during the 1st quarter. Raymond James & Associates now owns 57,807 shares of the company’s stock valued at $665,000 after purchasing an additional 37,027 shares in the last quarter. Private Advisor Group LLC grew its position in 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. United Capital Financial Advisers LLC bought a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the 1st quarter worth about $138,000. Rivernorth Capital Management LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 1st quarter valued at about $119,000. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 8.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 50,898 shares of the company’s stock valued at $585,000 after acquiring an additional 4,121 shares during the last quarter. Institutional investors own 8.26% of the company’s stock.

About Flaherty & Crumrine Preferred Income Opportunity Fund

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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.