<SEC-DOCUMENT>0001206774-14-002541.txt : 20140814
<SEC-HEADER>0001206774-14-002541.hdr.sgml : 20140814
<ACCEPTANCE-DATETIME>20140814145139
ACCESSION NUMBER:		0001206774-14-002541
CONFORMED SUBMISSION TYPE:	N-PX
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140630
FILED AS OF DATE:		20140814
DATE AS OF CHANGE:		20140814
EFFECTIVENESS DATE:		20140814

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Flaherty & Crumrine PREFERRED INCOME OPPORTUNITY FUND INC
		CENTRAL INDEX KEY:			0000882071
		IRS NUMBER:				954355600
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		N-PX
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06495
		FILM NUMBER:		141041929

	BUSINESS ADDRESS:	
		STREET 1:		301 E COLORADO BLVD STE 720
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101
		BUSINESS PHONE:		(626) 795-7300

	MAIL ADDRESS:	
		STREET 1:		301 COLORADO BLVD STE 720
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREFERRED INCOME OPPORTUNITY FUND INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-PX
<SEQUENCE>1
<FILENAME>fandcpiofi_npx.htm
<DESCRIPTION>ANNUAL REPORT OF PROXY VOTING RECORD
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor=#ffffff>
<BR>
<P align=center><FONT face="Times New Roman" size=2>UNITED
STATES<BR></FONT><FONT face="Times New Roman" size=2>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, DC 20549 </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>FORM N-PX</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>ANNUAL REPORT OF PROXY
VOTING RECORD OF REGISTERED<BR>MANAGEMENT INVESTMENT COMPANY</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Investment Company Act file
number </FONT><U><FONT face="Times New Roman" size=2>811-06495 </FONT></U><FONT face="Times New Roman" size=2></FONT></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="70%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="100%"><FONT face="Times New Roman" size=2>Flaherty &amp; Crumrine
      Preferred Income Opportunity Fund Incorporated</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Exact name of
      registrant as specified in charter)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="70%" border=0>

  <TR vAlign=bottom>
    <TD style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>301 E. Colorado
      Boulevard, Suite 720</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>Pasadena, CA
      91101</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Address of
      principal executive offices) (Zip
code)</FONT></TD></TR></TABLE></DIV><BR>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="70%" border=0>

  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>Donald F.
      Crumrine</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>Flaherty &amp;
      Crumrine Incorporated</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>301 E. Colorado
      Boulevard, Suite 720</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="100%"><FONT face="Times New Roman" size=2>Pasadena, CA 91101</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="100%"><FONT face="Times New Roman" size=2>(Name and address
      of agent for service)</FONT></TD></TR></TABLE></DIV><BR>
<P align=center><FONT face="Times New Roman" size=2>Registrant's telephone
number, including area code: </FONT><U><FONT face="Times New Roman" size=2>626-795-7300 </FONT></U></P>
<P align=center><FONT face="Times New Roman" size=2>Date of fiscal year end:
</FONT><U><FONT face="Times New Roman" size=2>November 30</FONT></U></P>
<P align=center><FONT face="Times New Roman" size=2>Date of reporting period:
</FONT><U><FONT face="Times New Roman" size=2>July 1, 2013 &#150; June 30,
2014</FONT></U><FONT face="Times New Roman" size=2> </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>Form N-PX is to be used by
a registered management investment company, other than a small business
investment company registered on Form N-5 (&#167;&#167; 239.24 and 274.5 of this chapter),
to file reports with the Commission, not later than August 31 of each year,
containing the registrant's proxy voting record for the most recent twelve-month
period ended June 30, pursuant to section 30 of the Investment Company Act of
1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the
information provided on Form N-PX in its regulatory, disclosure review,
inspection, and policymaking roles. </FONT></P>
<P align=justify><FONT face="Times New Roman" size=2>A registrant is required to
disclose the information specified by Form N-PX, and the Commission will make
this information public. A registrant is not required to respond to the
collection of information contained in Form N-PX unless the Form displays a
currently valid Office of Management and Budget ("OMB") control number. Please
direct comments concerning the accuracy of the information collection burden
estimate and any suggestions for reducing the burden to the Secretary,
Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The
OMB has reviewed this collection of information under the clearance requirements
of 44 U.S.C. &#167; 3507. </FONT></P>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>PROXY VOTING RECORD
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>FOR PERIOD JULY 1, 2013
TO JUNE 30, 2014 </FONT></B></P>
<P align=justify><B><FONT face="Times New Roman" size=1>REGISTRANT</FONT></B><B><FONT face="Times New Roman" size=1>
</FONT></B><B><FONT face="Times New Roman" size=1>NAME:</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=1>Flaherty</FONT></B><B><FONT face="Times New Roman" size=1> &amp;
</FONT></B><B><FONT face="Times New Roman" size=1>Crumrine</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=1>Preferred</FONT></B><B><FONT face="Times New Roman" size=1>
</FONT></B><B><FONT face="Times New Roman" size=1>Income</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=1>Opportunity</FONT></B><B><FONT face="Times New Roman" size=1> Fund
</FONT></B><B><FONT face="Times New Roman" size=1>Incorporated<BR>INVESTMENT</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=1>COMPANY</FONT></B><B><FONT face="Times New Roman" size=1> ACT FILE
</FONT></B><B><FONT face="Times New Roman" size=1>NUMBER:</FONT></B><B><FONT face="Times New Roman" size=1> 811 - 06495<BR></FONT></B><B><FONT face="Times New Roman" size=1>REPORTING</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=1>PERIOD:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>07/01/2013</U></FONT></B><B><FONT face="Times New Roman" size=1><U> - </U></FONT></B><B><FONT face="Times New Roman" size=1><U>06/30/2014</U><BR>REGISTRANT ADDRESS:</FONT></B><B><FONT face="Times New Roman" size=1> 301 E. </FONT></B><B><FONT face="Times New Roman" size=1>Colorado</FONT></B><B><FONT face="Times New Roman" size=1>
</FONT></B><B><FONT face="Times New Roman" size=1>Boulevard,</FONT></B><B><FONT face="Times New Roman" size=1> Suite 720, </FONT></B><B><FONT face="Times New Roman" size=1>Pasadena,</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=1>California</FONT></B><B><FONT face="Times New Roman" size=1>
91101<BR></FONT></B><B><FONT face="Times New Roman" size=1>NAME</FONT></B><B><FONT face="Times New Roman" size=1> OF
</FONT></B><B><FONT face="Times New Roman" size=1>SERIES</FONT></B><B><FONT face="Times New Roman" size=1> (AS </FONT></B><B><FONT face="Times New Roman" size=1>APPLICABLE): __________________________________</FONT></B></P>
<TABLE style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0pt; LINE-HEIGHT: 14pt; PADDING-TOP: 0pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="19%" bgColor=#c0c0c0><STRONG><FONT size=1 face="Times New Roman">Issuer of Portfolio
      Security</FONT></STRONG></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Exchange<BR>Ticker<BR>Symbol</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><STRONG><FONT size=1 face="Times New Roman">CUSIP
      #</FONT></STRONG></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><STRONG><FONT size=1 face="Times New Roman">Shareholder<BR>Meeting Date</FONT></STRONG></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="25%" bgColor=#c0c0c0><STRONG><FONT size=1 face="Times New Roman">Summary of Matter
      Voted On</FONT></STRONG></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Who Proposed<BR>Matter: Issuer /<BR>Shareholder</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Whether<BR>Fund Cast<BR>Vote on<BR>Matter</FONT></B></TD>
    <TD style="BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Fund's Vote For or<BR>Against Proposal,<BR>or Abstain; For
      or<BR>Withhold<BR>Regarding Election<BR>of Directors</FONT></B></TD>
    <TD style="BORDER-RIGHT: #000000 1.5pt solid; BORDER-TOP: #000000 1.5pt solid; BORDER-LEFT: #000000 1.5pt solid; BORDER-BOTTOM: #000000 1.5pt solid" vAlign=middle noWrap align=center width="8%" bgColor=#c0c0c0><B><FONT face="Times New Roman" size=1>Whether Vote<BR>Was For
or<BR>Against<BR>Management</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>EXC</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>30161N101</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>5/6/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Approve
    auditor</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>EXC</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>30161N101</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>5/6/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Approve
      directors</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>EXC</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>30161N101</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>5/6/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Approve executive
      compensation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>EXC</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>30161N101</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>5/6/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Limit on total
      compensation for named executive officers</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Security
    Holder</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Against</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>Exelon
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>EXC</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>30161N101</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>5/6/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Renew senior
      executive annual incentive plan</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>WMI Holdings
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>WMIH</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>92936P100</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>6/4/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Approve
    auditor</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>WMI Holdings
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>WMIH</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>92936P100</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>6/4/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Approve compensation
      of executive officers</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="19%"><FONT face="Times New Roman" size=1>WMI Holdings
      Corporation</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>WMIH</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>92936P100</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="8%"><FONT face="Times New Roman" size=1>6/4/2014</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="25%"><FONT face="Times New Roman" size=1>Approve
      directors</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Issuer</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>Yes</FONT></TD>
    <TD style="BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="8%"><FONT face="Times New Roman" size=1>For</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="100%" colSpan=9>
      <P align=justify><FONT face="Times New Roman" size=1>*Complete</FONT><FONT face="Times New Roman" size=1> for each series of the </FONT><FONT face="Times New Roman" size=1>Registrant,</FONT><FONT face="Times New Roman" size=1> as </FONT><FONT face="Times New Roman" size=1>applicable.</FONT><FONT face="Times New Roman" size=1>
    </FONT></P></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURES
</FONT></B></P>
<P align=justify><FONT face="Times New Roman" size=2>Pursuant to the
requirements of the Investment Company Act of 1940, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Registrant</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="98%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Flaherty &amp; Crumrine
      Preferred Income Opportunity Fund
Incorporated</FONT></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>By
      (Signature and Title)*</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="98%"><FONT face="Times New Roman" size=2>/s/ Donald F. Crumrine</font></TD></TR>
  <TR>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="98%">
      <P align=justify><FONT face="Times New Roman" size=2>Donald F. Crumrine,
      Director, Chairman of the Board and Chief<BR>Executive
      Officer<BR>(principal executive officer)
</FONT></P></TD></TR></TABLE><BR>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Date</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="99%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8/13/2014</font></TD></TR></TABLE><BR>
<P align=justify><FONT face="Times New Roman" size=2>*Print the name and title
of each signing officer under his or her signature. </FONT></P>
<HR align=center width="100%" noShade size="2">

</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
