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 significant growth in short interest in October. As of October 15th, there was short interest totalling 35,200 shares, a growth of 175.0% from the September 30th total of 12,800 shares. Based on an average daily volume of 44,400 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 0.6% during the 2nd quarter. Private Advisor Group LLC now owns 209,185 shares of the company’s stock worth $1,772,000 after purchasing an additional 1,219 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 1st quarter valued at approximately $187,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 2nd quarter worth approximately $47,000. Apella Capital LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 2nd quarter worth approximately $127,000. Finally, Consolidated Portfolio Review Corp increased its stake 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 purchasing an additional 5,997 shares in the last quarter. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Down 0.2 %

Shares of PFO opened at $9.32 on Friday. The stock’s 50 day moving average is $9.26 and its two-hundred day moving average is $8.68. Flaherty & Crumrine Preferred Income Opportunity Fund has a twelve month low of $6.90 and a twelve month high of $9.54.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be issued 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 positive change 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.