Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Sees Short Interest Drop 57% in January

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Get Free Report) experienced a notable decline in short interest during January. As of January 15th, short interest stood at 12,200 shares, which is a substantial decrease of 57.0% from the 28,400 shares reported at the end of December. Given the average daily trading volume of 36,200 shares, the current short-interest ratio is approximately 0.3 days.

Hedge Funds Take an Interest in PFO

Recently, several institutional investors and hedge funds have made changes to their holdings of PFO shares. For instance, Northwestern Mutual Wealth Management Co. entered a new investment in Flaherty & Crumrine Preferred Income Opportunity Fund during the second quarter, valued around $47,000. Similarly, Jag Capital Management LLC acquired a new stake in the third quarter, totaling about $120,000. Additionally, Napa Wealth Management increased its stake in the fund by 21.6% in the same quarter, now owning 97,047 shares valued at approximately $913,000 after purchasing an extra 17,255 shares. Currently, institutional investors and hedge funds own 12.90% of this stock.

PFO Stock Performance Overview

The stock traded at $9.17 on Thursday, showing an increase of $0.11. A total of 12,294 shares changed hands, compared to an average trading volume of 26,720 shares. The stock has seen a twelve-month low of $7.89 and a high of $9.54. Its fifty-day moving average is $9.10, while the 200-day moving average is $9.07.

Upcoming Dividend Announcement

The company has recently declared a monthly dividend, set to be distributed on Wednesday, April 30th. Shareholders on record as of Wednesday, April 23rd, will receive a dividend of $0.0505. The ex-dividend date is also slated for Wednesday, April 23rd. This equates to an annual dividend of $0.61 and a yield of 6.61%.

About Flaherty & Crumrine Preferred Income Opportunity Fund

(Get Free Report) Flaherty & Crumrine Preferred Income Opportunity Fund Inc is a closed-end mutual fund that is both launched and managed by Flaherty & Crumrine Incorporated. The fund primarily invests in public equity markets in the United States, focusing on companies within the financial services sector.

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Should You Invest $1,000 in Flaherty & Crumrine Preferred Income Opportunity Fund Right Now?

Before considering an investment in Flaherty & Crumrine Preferred Income Opportunity Fund, potential investors should be aware of important insights. Top-performing analysts are recommending five different stocks over PFO at this time, indicating that the fund holds a "Hold" rating among analysts.

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