Short Interest in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Expands By 1,863.6%

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 64,800 shares, a growth of 1,863.6% from the March 15th total of 3,300 shares. Based on an average daily trading volume, of 34,700 shares, the days-to-cover ratio is currently 1.9 days.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance

Shares of NYSE:PFO traded down $0.10 during trading on Wednesday, reaching $8.22. 43,224 shares of the company were exchanged, compared to its average volume of 31,621. The business's fifty day simple moving average is $8.28 and its 200-day simple moving average is $7.90. Flaherty & Crumrine Preferred Income Opportunity Fund has a 12-month low of $6.90 and a 12-month high of $8.48.

Flaherty & Crumrine Preferred Income Opportunity Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.0456 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date of this dividend is Monday, April 22nd.

Hedge Funds Weigh In On Flaherty & Crumrine Preferred Income Opportunity Fund

Several institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 1.4% during the fourth quarter. Private Advisor Group LLC now owns 204,176 shares of the company's stock valued at $1,625,000 after purchasing an additional 2,808 shares in the last quarter. Matisse Capital raised its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 658.1% in the fourth quarter. Matisse Capital now owns 132,281 shares of the company's stock worth $1,053,000 after purchasing an additional 114,831 shares in the last quarter. Wolverine Asset Management LLC lifted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 29.9% during the fourth quarter. Wolverine Asset Management LLC now owns 130,757 shares of the company's stock valued at $1,041,000 after acquiring an additional 30,070 shares during the last quarter. Consolidated Portfolio Review Corp boosted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 28.7% in the fourth quarter. Consolidated Portfolio Review Corp now owns 101,163 shares of the company's stock valued at $805,000 after acquiring an additional 22,533 shares in the last quarter. Finally, Saba Capital Management L.P. acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the third quarter worth $528,000. Hedge funds and other institutional investors own 12.90% of the company's stock.

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.

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