Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Free Report) by 205.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 116,029 shares of the company's stock after acquiring an additional 78,044 shares during the period. Envestnet Asset Management Inc.'s holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $1,045,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Sit Investment Associates Inc. boosted 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. Independent Advisor Alliance acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at approximately $407,000. Thomas J. Herzfeld Advisors Inc. boosted its stake 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 in the last quarter. LPL Financial LLC grew its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 29.9% during the fourth quarter. LPL Financial LLC now owns 49,630 shares of the company's stock worth $447,000 after acquiring an additional 11,435 shares during the period. Finally, Wells Fargo & Company MN raised its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 47.8% in the fourth quarter. Wells Fargo & Company MN now owns 33,668 shares of the company's stock worth $303,000 after acquiring an additional 10,886 shares in the last quarter. Institutional investors and hedge funds own 12.90% of the company's stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of NYSE PFO traded down $0.02 during trading on Wednesday, hitting $8.85. 22,704 shares of the company were exchanged, compared to its average volume of 33,675. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a 1 year low of $8.19 and a 1 year high of $9.54. The firm's fifty day moving average price is $8.94 and its 200 day moving average price is $9.08.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

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

Flaherty & Crumrine Preferred Income Opportunity Fund 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.