Truist Financial Corp Invests $426,000 in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Truist Financial Corp purchased a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 49,766 shares of the company’s stock, valued at approximately $426,000. Truist Financial Corp owned 0.38% of Flaherty & Crumrine Preferred Income Opportunity Fund as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC boosted its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 89.9% in the 3rd quarter. Private Advisor Group LLC now owns 138,782 shares of the company’s stock worth $1,189,000 after buying an additional 65,689 shares in the last quarter. Raymond James & Associates boosted its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 178.2% in the 1st quarter. Raymond James & Associates now owns 57,807 shares of the company’s stock worth $665,000 after buying an additional 37,027 shares in the last quarter. Schmidt P J Investment Management Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 2nd quarter worth about $196,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 3rd quarter worth about $128,000. Finally, United Capital Financial Advisers LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 1st quarter worth about $138,000. 8.26% of the stock is owned by institutional investors and hedge funds.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Up 0.4 %

Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $9.41 on Wednesday. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a 52 week low of $8.20 and a 52 week high of $12.10. The firm’s 50-day simple moving average is $9.12 and its 200 day simple moving average is $9.24.

Flaherty & Crumrine Preferred Income Opportunity Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 21st will be issued a $0.05 dividend. The ex-dividend date is Thursday, April 20th. This represents a $0.60 dividend on an annualized basis and a yield of 6.38%.

Flaherty & Crumrine Preferred Income Opportunity Fund Profile

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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.