Sit Investment Associates Inc. Purchases 250,024 Shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Sit Investment Associates Inc. grew its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) by 85.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 542,802 shares of the company’s stock after purchasing an additional 250,024 shares during the quarter. Sit Investment Associates Inc.’s holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $4,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Thomas J. Herzfeld Advisors Inc. grew its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 77.1% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 39,919 shares of the company’s stock valued at $360,000 after purchasing an additional 17,377 shares during the period. Independent Advisor Alliance purchased a new position in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter valued at approximately $407,000. Noble Wealth Management PBC bought a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter worth approximately $755,000. Wells Fargo & Company MN raised its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 47.8% during the 4th quarter. Wells Fargo & Company MN now owns 33,668 shares of the company’s stock valued at $303,000 after purchasing an additional 10,886 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 29.9% during the 4th quarter. LPL Financial LLC now owns 49,630 shares of the company’s stock valued at $447,000 after buying an additional 11,435 shares in the last quarter. Institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Down 5.7 %

Shares of Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $8.58 on Friday. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a fifty-two week low of $7.89 and a fifty-two week high of $9.54. The company has a fifty day moving average of $9.18 and a 200 day moving average of $9.20.

Flaherty & Crumrine Preferred Income Opportunity Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 23rd will be issued a $0.0505 dividend. This represents a $0.61 annualized dividend and a dividend yield of 7.07%. The ex-dividend date 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.