Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Short Interest Down 45.9% in February

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) saw a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 8,600 shares, a drop of 45.9% from the January 31st total of 15,900 shares. Based on an average daily trading volume, of 30,700 shares, the days-to-cover ratio is currently 0.3 days.

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

Hedge funds have recently modified their holdings of the stock. Napa Wealth Management boosted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 21.6% during the third quarter. Napa Wealth Management now owns 97,047 shares of the company’s stock valued at $913,000 after purchasing an additional 17,255 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter worth about $755,000. Jag Capital Management LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 3rd quarter valued at about $120,000. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at approximately $682,000. Finally, Citadel Advisors LLC acquired a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter worth approximately $97,000. 12.90% of the stock is owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance

Shares of PFO stock traded up $0.02 during trading on Monday, hitting $9.25. 35,146 shares of the company were exchanged, compared to its average volume of 26,831. The business’s 50-day simple moving average is $9.12 and its 200 day simple moving average is $9.18. Flaherty & Crumrine Preferred Income Opportunity Fund has a twelve month low of $7.89 and a twelve month high of $9.54.

Flaherty & Crumrine Preferred Income Opportunity Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.0505 per share. This represents a $0.61 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Wednesday, April 23rd.

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.