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

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) declared a monthly dividend on Friday, January 19th, Wall Street Journal reports. Investors of record on Tuesday, April 23rd will be paid a dividend of 0.0456 per share on Tuesday, April 30th. This represents a $0.55 annualized dividend and a dividend yield of 6.82%. The ex-dividend date is Monday, April 22nd.

Flaherty & Crumrine Preferred Income Opportunity Fund has decreased its dividend by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance

PFO stock opened at $8.02 on Friday. Flaherty & Crumrine Preferred Income Opportunity Fund has a 52 week low of $6.90 and a 52 week high of $8.48. The firm has a 50 day moving average of $8.25 and a 200 day moving average of $7.92.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 1st quarter valued at approximately $119,000. Mosaic Family Wealth Partners LLC acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter valued at approximately $102,000. United Capital Financial Advisers LLC acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 1st quarter valued at approximately $138,000. Susquehanna International Group LLP lifted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 14.4% during the 4th quarter. Susquehanna International Group LLP now owns 13,507 shares of the company’s stock valued at $116,000 after acquiring an additional 1,701 shares during the period. Finally, UBS Group AG lifted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 22.9% during the 3rd quarter. UBS Group AG now owns 18,142 shares of the company’s stock valued at $135,000 after acquiring an additional 3,376 shares during the period. Hedge funds and other institutional investors own 12.90% 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.