Flaherty & Crumrine Preferred Income OpportunityFund Inc

Flaherty & Crumrine Preferred & Income Opportunity Fund, Inc. is a closed-end investment company, which engages in the investment in preferred stocks. It concentrates its investments in the financial services sector. The company was founded on December 10, 1991 and is headquartered in Pasadena, CA.

Highland Income Fund

Pioneer Diversified High Income Trust

Only funds with coverage >100% are considered. Top lists of discount, yield, DxY and DxYxZ are given. Top DxYxZ funds are HFRO, PFO and HNW.

The Quality Closed-End Fund Report, July 2023

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Preferred closed-end funds have been negatively impacted due to rising interest rates; then, the bank collapses pushed them down even further. When things are most negative, that can be the time when there are the most opportunities for those that can handle some volatility.

PTA And PFO: 2 Preferred Closed-End Funds Trading At Attractive Discounts

Flaherty & Crumrine Dynamic Preferred & Income Fund

Flaherty & Crumrine Preferred Securities Income Fund Inc

Flaherty & Crumrine Total Return Fund Inc

Flaherty & Crumrine Preferred Income Fund Inc

We review CEF market valuation and performance through the last week of April and highlight recent market action. CEFs had a strong week to claw back some losses and finish April broadly flat.

CEF Weekly Review: 'Best-Of-Breed' Designation Is Usually An Admission Of Ignorance

Credit Suisse

First Trust Intermediate Duration Preferred & Income Fund

John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund

Nuveen Preferred & Income Opportunities Fund

Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income Securities Fund

Nuveen Preferred & Income 2022 Term Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Nuveen Variable Rate Preferred & Income Fund

iShares Preferred and Income Securities ETF 

Cohen & Steers Select Preferred and Income Fund

UBS Group AG

Today, I wanted to take a broader look at the preferred closed-end fund space. After struggling for most of the last year due to rapidly-rising interest rates, the latest banking failures sent preferred CEFs spiraling.

Preferred Closed-End Funds: Out Of The Frying Pan Into The Fire

PFO is a closed end fund focused on preferred shares. The vehicle is overweight bank and insurance companies' preferred equities.

PFO:  Assault On Regional Banks

PFO, along with most preferred and income-focused funds, has faced significant pressure over the last year due to rising interest rates. For PFO, being an unhedged leveraged fund meant that the pain came from both sides, rising underlying interest costs and declining underlying portfolio prices.

PFO: Preferred And Income Pain Continues, But Valuations Getting Tempting

Western Asset Mortgage Opportunity Fund

Angel Oak Financial Strategies Income Term Trust

Invesco Senior Income Trust

We review CEF market valuation and performance through the last week of September and highlight recent market action. September was the worst month for CEFs since March of 2020, with a double-digit drop for the broader CEF space.

CEF Weekly Review: Rising Leverage Costs Remain A Headwind For Some Funds

PASADENA, Calif.--(BUSINESS WIRE)--The Boards of Directors of Flaherty & Crumrine Preferred and Income Fund Incorporated (NYSE: PFD), Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated (NYSE: PFO), Flaherty & Crumrine Preferred and Income Securities Fund Incorporated (NYSE: FFC), Flaherty & Crumrine Total Return Fund Incorporated (NYSE: FLC) and Flaherty & Crumrine Dynamic Preferred and Income Fund Incorporated (NYSE: DFP) today announced that they have d

PFD, PFO, FFC, FLC and DFP Announce October and November Dividends

PFD, PFO, FFC, FLC and DFP Announce August and September Dividends

Everyone loves a regular distribution but nobody loves a cut, however small it may be. These cuts were extremely easy to predict considering the avalanche of challenges for PFO and PFD.

PFO And PFD: Preferred Share Funds Cut Distribution Again

PFO spends a lot of time trading at a premium to its NAV; however, shares have fallen to a discount with the latest volatility. This seems an attractive time to invest in the fund if you are a longer-term investor. The main risk continues to be interest rate uncertainty in the future and just how aggressive the Fed might be in hiking.

PFO: Looking Attractive In Discount Territory

 BlackRock Future Innovators ETF

BlackRock Innovation & Growth Trust

DoubleLine Yield Opportunities Fund

We finished up 2021 with another successful year for the broader market indexes.

4 Closed-End Funds Bought To Finish Up The Year

Today, we are taking a refreshed look at the preferred closed-end fund space. We see that the entire space has become more expensive, yet at the same time, distribution yields have dropped - this is mirroring the broader CEF spaces actions.

Closed-End Funds: A Check-Up On The Preferred Space

Apollo Senior Floating Rate Fund

Apollo Tactical Income Fund, Inc.

Ares Dynamic Credit Allocation Fund

Saba Closed-End Funds ETF

Doubleline Opportunistic Credit Fund

DoubleLine Income Solutions Fund

Eagle Point Income Company Inc

Nuveen Multi-Asset Income Fund

Pimco California Municipal Income Fund

Pimco California Municipal Income Fund III

XAI Octagon Floating Rate & Alternative Income Term Trust

We review CEF market valuation and performance through the second week of December and highlight recent market action.

CEF Weekly Market Review: Revisiting Resilient Core Themes

PFO is offered by Flaherty & Crumrine, one of the best fund sponsors in the preferred space by historical performance measurement.

PFO: Attractive Preferred Income Fund

Bank of America

JPMorgan Chase & Co

PTA's NAV has been rising, while its share price has been declining, that's exactly what we want to see for buying opportunities.

PTA: Discount Widening, Opening Up An Opportunity

PFO was a recent addition to my portfolio after a swap from FFC. PFO currently trades at a 4.24% premium, but this fund regularly trades at a premium.

PFO: Preferred Income, 6.17% Distribution Yield

A recovery in credit spreads and a drop in Treasury yields have buoyed the prices of preferred stocks and sector CEF NAVs. This has allowed preferred CEFs to increase borrowings this year which drives higher income levels and strengthens distribution coverage.

Preferreds CEF Sector Adds Borrowings To Boost Income

John Hancock Premium Dividend Fund

We take a look at year-to-date returns of the sector CEFs as well as the key drivers behind those returns. There are no easy answers in allocating to the sector as funds with the most robust structural features and no hedge NAV drags are also trading at elevated premiums.

Preferreds CEF Sector Update

Steadily lower yields and heightened volatility make relative value opportunities an attractive alpha generation strategy in CEFs.

A Wealth Of Relative Value Opportunities In Preferred CEFs

John Hancock Financial Opportunities Fund

'Hunkering Down' To Weather The Storm With John Hancock's Financial Opportunity Fund

Evaluating Alternatives For Your CEF Capital Losses

News for Flaherty & Crumrine Preferred Income OpportunityFund Inc ETF (PFO)