PFO

Flaherty & Crumrine Preferred and Income Opportunity Fund Incorporated is a closed-end management investment company that primarily invests in a portfolio of preferred and other income-producing securities. The fund aims to provide high current income while preserving capital, focusing at least 80% of its managed assets in these securities, which include traditional preferred stock, trust preferred securities, and subordinated debt. It allocates a minimum of 25% of its total assets to the financial sector, which encompasses various industries such as banking, insurance, and asset management, while also having the flexibility to invest in other sectors like energy and utilities. The fund operates primarily in the United States but may also invest in U.S. dollar-denominated securities from foreign companies.