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

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors of record on Friday, June 21st will be given a dividend of 0.0483 per share on Friday, June 28th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date is Friday, June 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 has decreased its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 1 years.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 24.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 67,646 shares of the company’s stock valued at $558,000 after purchasing an additional 13,169 shares in the last quarter. Raymond James & Associates lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 178.2% in the first quarter. Raymond James & Associates now owns 57,807 shares of the company’s stock worth $665,000 after buying an additional 37,027 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 7.9% in the fourth quarter. Advisor Group Holdings Inc. now owns 55,513 shares of the company’s stock worth $478,000 after buying an additional 4,056 shares during the last quarter. LPL Financial LLC lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 9.8% in the third quarter. LPL Financial LLC now owns 45,892 shares of the company’s stock worth $341,000 after buying an additional 4,083 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 7.8% in the second quarter. Wells Fargo & Company MN now owns 39,086 shares of the company’s stock worth $313,000 after buying an additional 2,818 shares during the last quarter. 12.90% of the stock is owned by hedge funds and other institutional investors.

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.