Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) Short Interest Up 175.0% in October

Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO - Get Free Report) was the target of a large increase in short interest in October. As of October 15th, there was short interest totalling 35,200 shares, an increase of 175.0% from the September 30th total of 12,800 shares. Based on an average daily volume of 44,400 shares, the days-to-cover ratio is currently 0.8 days.

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

Institutional investors have recently made changes to their positions in the company. Matisse Capital grew its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 26.3% during the 2nd quarter. Matisse Capital now owns 177,623 shares of the company's stock valued at $1,504,000 after buying an additional 37,012 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the first quarter valued at approximately $187,000. Catalina Capital Group LLC acquired a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund during the 2nd quarter worth approximately $151,000. Apella Capital LLC bought a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the 2nd quarter worth approximately $127,000. Finally, Consolidated Portfolio Review Corp boosted its position in Flaherty & Crumrine Preferred Income Opportunity Fund by 5.9% during the 1st quarter. Consolidated Portfolio Review Corp now owns 107,160 shares of the company's stock valued at $904,000 after purchasing an additional 5,997 shares during the period. 12.90% of the stock is currently owned by institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Stock Down 0.2 %

NYSE:PFO traded down $0.02 during mid-day trading on Friday, reaching $9.32. The stock had a trading volume of 37,242 shares, compared to its average volume of 35,571. Flaherty & Crumrine Preferred Income Opportunity Fund has a 1-year low of $6.90 and a 1-year high of $9.54. The stock's 50 day simple moving average is $9.26 and its two-hundred day simple moving average is $8.69.

Flaherty & Crumrine Preferred Income Opportunity Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 21st will be given a $0.0505 dividend. This is a positive change from Flaherty & Crumrine Preferred Income Opportunity Fund's previous monthly dividend of $0.05. The ex-dividend date is Thursday, November 21st. This represents a $0.61 annualized dividend and a dividend yield of 6.50%.

About Flaherty & Crumrine Preferred Income Opportunity Fund

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.