Napa Wealth Management Reduces Holdings in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Napa Wealth Management trimmed its stake in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Free Report) by 35.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 62,424 shares of the company's stock after selling 34,623 shares during the period. Napa Wealth Management's holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $562,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFO. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter worth $682,000. Citadel Advisors LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at $97,000. Bank of America Corp DE increased its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 7.4% in the 4th quarter. Bank of America Corp DE now owns 21,790 shares of the company's stock valued at $196,000 after acquiring an additional 1,500 shares during the period. Invesco Ltd. acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at $113,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of 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 acquiring an additional 78,044 shares during the period. Hedge funds and other institutional investors own 12.90% of the company's stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Up 0.1%

Shares of PFO traded up $0.01 during mid-day trading on Friday, hitting $8.98. The company's stock had a trading volume of 64,621 shares, compared to its average volume of 33,828. 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 has a 50-day simple moving average of $8.91 and a 200 day simple moving average of $9.06.

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%.

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.