Rpo LLC Makes New $98,000 Investment in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Rpo LLC purchased a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFOFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,287 shares of the company’s stock, valued at approximately $98,000.

Other hedge funds also recently modified their holdings of the company. Arlington Capital Management Inc. acquired a new position in Flaherty & Crumrine Preferred Income Opportunity Fund in the fourth quarter valued at $124,000. AQR Arbitrage LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the third quarter valued at about $295,000. Sowell Financial Services LLC acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the fourth quarter valued at about $311,000. Saba Capital Management L.P. acquired a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the third quarter valued at about $528,000. Finally, Consolidated Portfolio Review Corp raised its holdings in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 65.9% during the third quarter. Consolidated Portfolio Review Corp now owns 78,630 shares of the company’s stock valued at $585,000 after purchasing an additional 31,223 shares during the period. Institutional investors and hedge funds own 12.90% of the company’s stock.

Flaherty & Crumrine Preferred Income Opportunity Fund Price Performance

Shares of NYSE PFO traded down $0.02 during trading on Wednesday, hitting $8.25. 5,123 shares of the company traded hands, compared to its average volume of 31,100. The business’s fifty day moving average is $8.25 and its 200 day moving average is $8.14. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $8.48.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.0483 per share. The ex-dividend date is Wednesday, May 22nd. This is an increase from Flaherty & Crumrine Preferred Income Opportunity Fund’s previous dividend of $0.05. This represents a dividend yield of 6.91%.

About Flaherty & Crumrine Preferred Income Opportunity Fund

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Flaherty & Crumrine Preferred Income Opportunity Fund (NYSE:PFO)

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