SPC Financial Inc. raised its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) by 14.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,100 shares of the company’s stock after acquiring an additional 1,500 shares during the period. SPC Financial Inc.’s holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $159,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Private Advisor Group LLC raised its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 6.8% during the 3rd quarter. Private Advisor Group LLC now owns 94,475 shares of the company’s stock worth $1,124,000 after buying an additional 5,999 shares during the period. US Bancorp DE raised its holdings in Flaherty & Crumrine Preferred Income Opportunity Fund by 14.7% during the 3rd quarter. US Bancorp DE now owns 33,652 shares of the company’s stock worth $400,000 after buying an additional 4,320 shares during the period. Adams Wealth Management acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 3rd quarter worth about $28,000. First Allied Advisory Services Inc. acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 3rd quarter worth about $471,000. Finally, Kestra Advisory Services LLC acquired a new stake in Flaherty & Crumrine Preferred Income Opportunity Fund during the 4th quarter worth about $152,000. 6.81% of the stock is owned by institutional investors.
Shares of PFO traded up $0.08 during trading hours on Wednesday, reaching $12.93. The company’s stock had a trading volume of 17,929 shares, compared to its average volume of 31,654. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a 1-year low of $6.01 and a 1-year high of $14.12. The firm has a 50 day moving average of $12.92.
The firm also recently announced a monthly dividend, which will be paid on Friday, April 30th. Stockholders of record on Friday, April 23rd will be issued a $0.068 dividend. The ex-dividend date of this dividend is Thursday, April 22nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 6.31%.
Flaherty & Crumrine Preferred Income Opportunity Fund 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.
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