Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Announces Dividend Increase – $0.05 Per Share

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.0483 per share on Friday, June 28th. This represents a $0.58 dividend on an annualized basis and a 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 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 Stock Performance

NYSE:PFO remained flat at $8.02 during mid-day trading on Friday. The company’s stock had a trading volume of 37,048 shares, compared to its average volume of 32,587. The stock’s fifty day moving average price is $8.26 and its two-hundred day moving average price is $7.92. Flaherty & Crumrine Preferred Income Opportunity Fund has a 12-month low of $6.90 and a 12-month high of $8.48.

Institutional Trading of Flaherty & Crumrine Preferred Income Opportunity Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 5.8% in the 1st quarter. Bank of America Corp DE now owns 25,484 shares of the company’s stock worth $210,000 after buying an additional 1,398 shares during the last quarter. Susquehanna International Group LLP raised its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 14.4% in the 4th quarter. Susquehanna International Group LLP now owns 13,507 shares of the company’s stock worth $116,000 after purchasing an additional 1,701 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 7.8% in the 2nd quarter. Wells Fargo & Company MN now owns 39,086 shares of the company’s stock worth $313,000 after purchasing an additional 2,818 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 10.3% in the 2nd quarter. NewEdge Advisors LLC now owns 32,162 shares of the company’s stock worth $306,000 after purchasing an additional 3,000 shares during the period. Finally, Raymond James & Associates raised its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 16.3% in the 4th quarter. Raymond James & Associates now owns 22,672 shares of the company’s stock worth $195,000 after purchasing an additional 3,180 shares during the period. 12.90% of the stock is owned by institutional investors and hedge funds.

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.