Wolverine Asset Management LLC Raises Stock Holdings in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO)

Wolverine Asset Management LLC grew its stake in Flaherty & Crumrine Preferred Income Opportunity Fund Inc. (NYSE:PFO) by 29.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,757 shares of the company’s stock after acquiring an additional 30,070 shares during the quarter. Wolverine Asset Management LLC’s holdings in Flaherty & Crumrine Preferred Income Opportunity Fund were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PFO. Financial Management Network Inc. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the third quarter valued at $80,000. Private Advisor Group LLC lifted its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 2.1% in the third quarter. Private Advisor Group LLC now owns 201,368 shares of the company’s stock valued at $1,498,000 after acquiring an additional 4,159 shares in the last quarter. Consolidated Portfolio Review Corp lifted its position in shares of Flaherty & Crumrine Preferred Income Opportunity Fund by 65.9% in the third quarter. Consolidated Portfolio Review Corp now owns 78,630 shares of the company’s stock valued at $585,000 after acquiring an additional 31,223 shares in the last quarter. Saba Capital Management L.P. purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the third quarter valued at $528,000. Finally, AQR Arbitrage LLC purchased a new stake in shares of Flaherty & Crumrine Preferred Income Opportunity Fund in the third quarter valued at $295,000. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Flaherty & Crumrine Preferred Income Opportunity Fund Trading Down 1.0 %

Flaherty & Crumrine Preferred Income Opportunity Fund stock opened at $8.03 on Friday. The stock has a fifty day moving average price of $8.24 and a 200 day moving average price of $7.95. Flaherty & Crumrine Preferred Income Opportunity Fund Inc. has a 52 week low of $6.90 and a 52 week high of $8.48.

Flaherty & Crumrine Preferred Income Opportunity Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 23rd will be paid a $0.0483 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $0.58 annualized dividend and a yield of 7.22%.

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.