Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 15,800 shares, a growth of 295.0% from the May 15th total of 4,000 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 29,000 shares, the days-to-cover ratio is presently 0.5 days.
Institutional Trading of Flaherty & Crumrine Preferred Income Opportunity Fund
A number of institutional investors have recently added to or reduced their stakes in the stock. Rossby Financial LCC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 1st quarter worth approximately $28,000. Citadel Advisors LLC purchased a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth $97,000. Invesco Ltd. purchased a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter worth $113,000. Vanguard Capital Wealth Advisors acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund in the first quarter valued at $129,000. Finally, Bank of America Corp DE increased its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 7.4% in the fourth quarter. Bank of America Corp DE now owns 21,790 shares of the company's stock valued at $196,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 12.90% of the company's stock.
Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance
Flaherty & Crumrine Preferred Income Opportunity Fund stock traded up $0.01 during midday trading on Friday, reaching $9.16. The company's stock had a trading volume of 14,608 shares, compared to its average volume of 34,331. Flaherty & Crumrine Preferred Income Opportunity Fund has a fifty-two week low of $8.01 and a fifty-two week high of $9.54. The stock's 50 day simple moving average is $8.86 and its 200 day simple moving average is $9.04.
Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend
The business also recently disclosed a dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 26th were paid a $0.0512 dividend. This is a boost from Flaherty & Crumrine Preferred Income Opportunity Fund's previous dividend of $0.05. The ex-dividend date of this dividend was Friday, May 23rd. This represents a dividend yield of 6.81%.
Flaherty & Crumrine Preferred Income Opportunity Fund Company Profile
(
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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.
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