Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Short Interest Up 33.3% in May

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 4,000 shares, a growth of 33.3% from the April 30th total of 3,000 shares. Based on an average daily trading volume, of 28,100 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company's stock are short sold.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Up 0.1%

Shares of NYSE PFO traded up $0.01 during trading hours on Thursday, reaching $9.06. The stock had a trading volume of 16,816 shares, compared to its average volume of 28,355. The firm has a 50-day moving average of $8.85 and a 200-day moving average of $9.04. Flaherty & Crumrine Preferred Income Opportunity Fund has a fifty-two week low of $8.01 and a fifty-two week high of $9.54.

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 was Friday, May 23rd. This represents a dividend yield of 6.81%.

Institutional Investors Weigh In On Flaherty & Crumrine Preferred Income Opportunity Fund

A number of large investors have recently added to or reduced their stakes in PFO. Sit Investment Associates Inc. increased its stake 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 valued at $4,891,000 after acquiring an additional 250,024 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter worth about $755,000. Envestnet Asset Management Inc. increased its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 205.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 116,029 shares of the company's stock worth $1,045,000 after purchasing an additional 78,044 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. purchased a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at approximately $682,000. Finally, Independent Advisor Alliance acquired a new position in Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter valued at approximately $407,000. 12.90% of the stock is owned by institutional investors and hedge funds.

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.