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

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Investors 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 yield of 7.23%. The ex-dividend date is Friday, June 21st. This is a boost 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 every year for the last 1 years.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of PFO opened at $8.02 on Friday. The firm’s 50 day simple moving average is $8.25 and its 200 day simple moving average is $7.92. Flaherty & Crumrine Preferred Income Opportunity Fund has a 1-year low of $6.90 and a 1-year high of $8.48.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Flaherty & Crumrine Preferred Income Opportunity Fund by 5.8% in the first quarter. Bank of America Corp DE now owns 25,484 shares of the company’s stock valued at $210,000 after purchasing an additional 1,398 shares in the last quarter. Susquehanna International Group LLP raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 14.4% during the fourth quarter. Susquehanna International Group LLP now owns 13,507 shares of the company’s stock worth $116,000 after acquiring an additional 1,701 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 7.8% during the second quarter. Wells Fargo & Company MN now owns 39,086 shares of the company’s stock worth $313,000 after acquiring an additional 2,818 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 10.3% during the second quarter. NewEdge Advisors LLC now owns 32,162 shares of the company’s stock worth $306,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 16.3% during the fourth quarter. Raymond James & Associates now owns 22,672 shares of the company’s stock worth $195,000 after acquiring an additional 3,180 shares in the last quarter. 12.90% of the stock is owned by hedge funds and other institutional investors.

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.