Envestnet Asset Management Inc. Has $1.05 Million Stock Position in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Envestnet Asset Management Inc. lifted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Free Report) by 205.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,029 shares of the company's stock after purchasing 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 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PFO. Sit Investment Associates Inc. raised its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 85.4% during the 4th quarter. Sit Investment Associates Inc. now owns 542,802 shares of the company's stock worth $4,891,000 after purchasing an additional 250,024 shares during the last quarter. Noble Wealth Management PBC acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter worth about $755,000. Independent Advisor Alliance acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at about $407,000. Thomas J. Herzfeld Advisors Inc. boosted its holdings in 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 worth $360,000 after purchasing an additional 17,377 shares during the period. Finally, LPL Financial LLC raised its position 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 worth $447,000 after purchasing an additional 11,435 shares during the period. 12.90% of the stock is owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Down 0.6 %

PFO stock traded down $0.05 during trading 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 1-year low of $8.19 and a 1-year high of $9.54. The company'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 firm also recently announced a -- dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 23rd will be issued a $0.0512 dividend. This is an increase from Flaherty & Crumrine Preferred Income Opportunity Fund's previous -- dividend of $0.03. The ex-dividend date is Monday, June 23rd. This represents a dividend yield of 7%.

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.