Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (PFO) To Go Ex-Dividend on June 21st

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

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $8.02 on Friday. The company’s fifty day moving average price is $8.25 and its two-hundred day moving average price is $7.93. Flaherty & Crumrine Preferred Income Opportunity Fund has a 52-week low of $6.90 and a 52-week high of $8.48.

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

Several institutional investors and hedge funds have recently bought and sold shares of PFO. Raymond James & Associates increased its holdings in 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 valued at $665,000 after buying an additional 37,027 shares during the period. Logan Stone Capital LLC bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at $228,000. Private Advisor Group LLC increased its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 158.8% in the 1st quarter. Private Advisor Group LLC now owns 38,828 shares of the company’s stock valued at $447,000 after buying an additional 23,825 shares during the period. International Assets Investment Management LLC bought a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund in the 4th quarter valued at $178,000. Finally, Cerity Partners LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 1st quarter worth about $166,000. 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.