Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) to Issue Monthly Dividend of $0.05

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Friday, June 21st will be paid a dividend of 0.0483 per share on Friday, June 28th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 7.23%. The ex-dividend date of this dividend is Friday, June 21st. This is a positive change from Flaherty & Crumrine Preferred Income Opportunity Fund’s previous monthly dividend of $0.05.

Flaherty & Crumrine Preferred Income Opportunity Fund has decreased its dividend by an average of 9.9% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Performance

Shares of PFO stock remained flat at $8.02 on Friday. The stock had a trading volume of 37,048 shares, compared to its average volume of 32,587. Flaherty & Crumrine Preferred Income Opportunity Fund has a twelve month low of $6.90 and a twelve month high of $8.48. The company has a 50-day moving average of $8.26 and a 200 day moving average of $7.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mosaic Family Wealth Partners LLC purchased a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at about $102,000. Susquehanna International Group LLP grew its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 14.4% in the fourth quarter. Susquehanna International Group LLP now owns 13,507 shares of the company’s stock valued at $116,000 after purchasing an additional 1,701 shares in the last quarter. Rivernorth Capital Management LLC purchased a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the first quarter valued at about $119,000. UBS Group AG grew its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 22.9% in the third quarter. UBS Group AG now owns 18,142 shares of the company’s stock valued at $135,000 after purchasing an additional 3,376 shares in the last quarter. Finally, United Capital Financial Advisers LLC purchased a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the first quarter valued at about $138,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Company Profile

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.