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) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 8,600 shares, a decline of 45.9% from the January 31st total of 15,900 shares. Based on an average trading volume of 30,700 shares, the days-to-cover ratio is currently 0.3 days.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of NYSE PFO opened at $9.23 on Friday. Flaherty & Crumrine Preferred Income Opportunity Fund has a 12 month low of $7.89 and a 12 month high of $9.54. The stock has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $9.17.

Flaherty & Crumrine Preferred Income Opportunity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be paid a $0.0505 dividend. This represents a $0.61 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Wednesday, April 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. increased its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 85.4% in the fourth quarter. Sit Investment Associates Inc. now owns 542,802 shares of the company’s stock valued at $4,891,000 after buying an additional 250,024 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 205.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 116,029 shares of the company’s stock valued at $1,045,000 after buying an additional 78,044 shares during the period. Napa Wealth Management increased its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 21.6% in the third quarter. Napa Wealth Management now owns 97,047 shares of the company’s stock valued at $913,000 after buying an additional 17,255 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at approximately $755,000. Finally, Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at approximately $682,000. Institutional investors and hedge funds 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.