AQR Arbitrage LLC Cuts Stake in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

AQR Arbitrage LLC trimmed its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Free Report) by 43.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,344 shares of the company's stock after selling 32,035 shares during the period. AQR Arbitrage LLC's holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth about $113,000. Envestnet Asset Management Inc. raised its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 205.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 116,029 shares of the company's stock valued at $1,045,000 after purchasing an additional 78,044 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 85.4% in the 4th quarter. Sit Investment Associates Inc. now owns 542,802 shares of the company's stock valued at $4,891,000 after purchasing an additional 250,024 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 33,668 shares of the company's stock worth $303,000 after buying an additional 10,886 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. raised its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 77.1% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 39,919 shares of the company's stock valued at $360,000 after buying an additional 17,377 shares during the last quarter. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance

PFO traded down $0.05 on Monday, reaching $8.85. 60,822 shares of the company's stock were exchanged, compared to its average volume of 33,768. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a twelve month low of $8.19 and a twelve month high of $9.54. The stock's fifty day moving average price is $8.96 and its 200-day moving average price is $9.09.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The company also recently announced a -- dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 23rd will be issued a $0.0512 dividend. This represents a yield of 7%. This is a positive change from Flaherty & Crumrine Preferred Income Opportunity Fund's previous -- dividend of $0.03. The ex-dividend date is Monday, June 23rd.

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.