Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Sees Large Increase in Short Interest

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 35,200 shares, an increase of 175.0% from the September 30th total of 12,800 shares. Based on an average daily trading volume, of 44,400 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 0.6% during the second quarter. Private Advisor Group LLC now owns 209,185 shares of the company’s stock worth $1,772,000 after buying an additional 1,219 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the first quarter valued at approximately $187,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the second quarter worth approximately $47,000. Apella Capital LLC purchased a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund in the 2nd quarter worth approximately $127,000. Finally, Consolidated Portfolio Review Corp raised its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 5.9% in the 1st quarter. Consolidated Portfolio Review Corp now owns 107,160 shares of the company’s stock valued at $904,000 after acquiring an additional 5,997 shares during the last quarter. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Down 0.2 %

Shares of NYSE:PFO opened at $9.32 on Friday. Flaherty & Crumrine Preferred Income Opportunity Fund has a one year low of $6.90 and a one year high of $9.54. The business’s fifty day moving average price is $9.26 and its two-hundred day moving average price is $8.68.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a dividend of $0.0505 per share. This represents a $0.61 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend is Thursday, November 21st. This is a boost from Flaherty & Crumrine Preferred Income Opportunity Fund’s previous monthly dividend of $0.05.

Flaherty & Crumrine Preferred Income Opportunity Fund Company Profile

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.