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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (10293)	4/18/2009 8:45:19 AM
From: Perspective	Read Replies (2) \| Respond to of 41532

Ah, I think I see the problem: preferredincome.com The Flaherty & Crumrine Preferred Income Opportunity Fund ("PFO") is a closed-end, diversified investment company which invests primarily in preferred stocks. It commenced investment operations in February, 1992 through an initial public offering of common stock. The Fund was subsequently leveraged by issuing Money Market Cumulative Preferred(TM) Stock ("MMP®") and currently has $70,000,000 of the MMP® outstanding. At Feb. 27, 2009 there were 11,848,266 common shares outstanding. Funny thing is, the price of PFO now trades at a premium to the NAV, something it seems to do when the market is overbought, although it stayed at a premium for much of the last bull. preferredincome.com `BC