PFG Investments LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 109,160 shares of the company's stock, valued at approximately $921,000. PFG Investments LLC owned approximately 0.83% of Flaherty & Crumrine Preferred Income Opportunity Fund at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PFO. Matisse Capital boosted its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 658.1% during the fourth quarter. Matisse Capital now owns 132,281 shares of the company's stock worth $1,053,000 after buying an additional 114,831 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 282.6% in the 3rd quarter. Wolverine Asset Management LLC now owns 100,687 shares of the company's stock valued at $749,000 after purchasing an additional 74,371 shares in the last quarter. Saba Capital Management L.P. acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 3rd quarter valued at $528,000. AQR Arbitrage LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 3rd quarter valued at $295,000. Finally, Sowell Financial Services LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at $311,000. Institutional investors and hedge funds own 12.90% of the company's stock.
Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance
Shares of NYSE:PFO remained flat at $8.04 on Friday. 12,377 shares of the stock traded hands, compared to its average volume of 36,289. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a 52 week low of $6.90 and a 52 week high of $8.48. The company has a fifty day moving average of $8.24 and a 200 day moving average of $7.97.
Flaherty & Crumrine Preferred Income Opportunity Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 23rd will be paid a $0.0483 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.58 annualized dividend and a dividend yield of 7.21%.
Flaherty & Crumrine Preferred Income Opportunity Fund Company Profile
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Free Report)
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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