Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Short Interest Down 57.0% in January

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 12,200 shares, a decrease of 57.0% from the December 31st total of 28,400 shares. Based on an average trading volume of 36,200 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Opportunity Fund

Several institutional investors and hedge funds have recently bought and sold shares of PFO. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 2nd quarter valued at approximately $47,000. Jag Capital Management LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 3rd quarter valued at approximately $120,000. Finally, Napa Wealth Management raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 21.6% in the 3rd quarter. Napa Wealth Management now owns 97,047 shares of the company’s stock valued at $913,000 after acquiring an additional 17,255 shares during the period. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance

PFO traded up $0.11 on Thursday, reaching $9.17. 12,294 shares of the company’s stock were exchanged, compared to its average volume of 26,720. Flaherty & Crumrine Preferred Income Opportunity Fund has a twelve month low of $7.89 and a twelve month high of $9.54. The stock’s fifty day moving average price is $9.10 and its 200-day moving average price is $9.07.

Flaherty & Crumrine Preferred Income Opportunity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 23rd will be issued a $0.0505 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.61 annualized dividend and a yield of 6.61%.

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.