<SEC-DOCUMENT>0001752724-23-160416.txt : 20230724
<SEC-HEADER>0001752724-23-160416.hdr.sgml : 20230724
<ACCEPTANCE-DATETIME>20230724134902
ACCESSION NUMBER:		0001752724-23-160416
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230531
FILED AS OF DATE:		20230724
DATE AS OF CHANGE:		20230724
PERIOD START:           	20231130

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:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06495
		FILM NUMBER:		231104551

	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 800
		STREET 2:		C/O FLAHERTY & CRUMRINE INC
		CITY:			PASADENA
		STATE:			CA
		ZIP:			91101

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Flaherty & Crumrine PREFERRED INCOME OPPORTUNITY FUND INC
		DATE OF NAME CHANGE:	20050708

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREFERRED INCOME OPPORTUNITY FUND INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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        <name>LIBERTY MUTUAL GROUP INC</name>
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        <name>ATHENE HOLDING LTD</name>
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        <name>UBS GROUP AG</name>
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        <name>ARBOR REALTY TRUST INC</name>
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        <name>CADENCE BANK</name>
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        <title>Cadence Bank</title>
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        <name>LINCOLN NATIONAL CORP</name>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <name>AMER AGCREDIT ACA</name>
        <lei>0002558989</lei>
        <title>American AgCredit Corp</title>
        <cusip>02369GAA3</cusip>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
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        <name>LIBERTY MUTUAL INSURANCE</name>
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        <name>LINCOLN NATIONAL CORP</name>
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          <maturityDt>N/A</maturityDt>
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        <name>HUNTINGTON BANCSHARES</name>
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        <name>ING GROEP NV</name>
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      <invstOrSec>
        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <invCountry>FR</invCountry>
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          <maturityDt>N/A</maturityDt>
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        <name>COBANK ACB</name>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>DCP MIDSTREAM LP</name>
        <lei>52990024YYS3MLGW0E91</lei>
        <title>DCP Midstream LP</title>
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        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <name>PROVIDENT FINANCING TR I</name>
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        <name>WINTRUST FINANCIAL CORP</name>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <name>GLOBAL ATLANTIC</name>
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        <name>HUNTINGTON BANCSHARES</name>
        <lei>549300XTVCVV9I7B5T19</lei>
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        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
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        <name>BlackRock Liquidity Funds T-Fund</name>
        <lei>5493002L9DNZ83RX7V61</lei>
        <title>BlackRock Liquidity Funds T-Fund</title>
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          <ticker value="TSTXX"/>
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        <name>CARLYLE FINANCE LLC</name>
        <lei>N/A</lei>
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          <ticker value="CG"/>
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        <name>HSBC HOLDINGS PLC</name>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
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        <name>COMPEER FINANCIAL ACA</name>
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        <name>ZIONS BANCORP NA</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
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        <name>SBL HOLDINGS INC</name>
        <lei>635400MJW3QDSBJRKQ59</lei>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp</title>
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          <ticker value="RF"/>
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        <curCd>USD</curCd>
        <valUSD>2217204.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>EDISON INTERNATIONAL</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020AS6</cusip>
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          <isin value="US281020AS67"/>
          <other otherDesc="SEDOL" value="BMCDH43"/>
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        <balance>385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>337991.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>FT REAL ESTATE SECS CO</name>
        <lei>0002671824</lei>
        <title>FT Real Estate Securities Co Inc</title>
        <cusip>302663208</cusip>
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          <isin value="US3026632089"/>
          <ticker value="FHN"/>
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        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1308250.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIRST HORIZON CORP</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corp</title>
        <cusip>320517402</cusip>
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          <isin value="US3205174028"/>
          <ticker value="FHN"/>
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        <curCd>USD</curCd>
        <valUSD>304500.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
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        <cusip>853254BX7</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
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        <name>WEBSTER FINANCIAL CORP</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp</title>
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        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp</title>
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          <ticker value="SF"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>STANDARD CHARTERED PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
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        <curCd>USD</curCd>
        <valUSD>1610285.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>VODAFONE GROUP PLC</name>
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        <name>HSBC HOLDINGS PLC</name>
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        <name>SOUTHERN CO</name>
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        <name>EDISON INTERNATIONAL</name>
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        <name>BRITISH TELECOMMUNICATIO</name>
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        <name>MACQUARIE BANK LONDON</name>
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        <name>CITIGROUP INC</name>
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        <name>PARAMOUNT GLOBAL</name>
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        <name>CREDIT AGRICOLE SA</name>
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        <name>SCE TRUST V</name>
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        <name>ANNALY CAPITAL MGMT</name>
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        <name>AMERICAN INTL GROUP</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <name>ASSURANT INC</name>
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        <title>Assurant Inc</title>
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        <name>VALLEY NATIONAL BANCORP</name>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>WELLS FARGO &amp; COMPANY</name>
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      <invstOrSec>
        <name>NISOURCE INC</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource Inc</title>
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          <isin value="US65473PAG00"/>
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        <curCd>USD</curCd>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>DOMINION ENERGY INC</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy Inc</title>
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          <isin value="US25746UDM80"/>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>QWEST CORP</name>
        <lei>549300R2L4N683OO1509</lei>
        <title>Qwest Corp</title>
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          <isin value="US74913G8731"/>
          <ticker value="CTL"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FIRST CITIZENS BANCSHARE</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd</title>
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          <isin value="US04686J4085"/>
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        <invCountry>BM</invCountry>

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        <name>ALGONQUIN PWR &amp; UTILITY</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corp</title>
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          <ticker value="AQNCN"/>
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        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
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        <name>EQUITABLE HOLDINGS INC</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc</title>
        <cusip>29452EAA9</cusip>
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        <name>LAND O'LAKES INC</name>
        <lei>4ONCJWH5BBCYSJIJYX61</lei>
        <title>Land O' Lakes Inc</title>
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        <name>HUNTINGTON BANCSHARES</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Inc/OH</title>
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        <name>WESBANCO INC</name>
        <lei>0001070448</lei>
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        <name>NEXTERA ENERGY CAPITAL</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc</title>
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        <name>ZIONS BANCORP NA</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>Zions Bancorp NA</title>
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        <name>PECO ENERGY CAP TRST III</name>
        <lei>N/A</lei>
        <title>PECO Energy Capital Trust III</title>
        <cusip>69331VAA4</cusip>
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        <name>STIFEL FINANCIAL CORP</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp</title>
        <cusip>860630706</cusip>
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          <ticker value="SF"/>
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        <assetCat>EP</assetCat>
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        <name>SCE TRUST II</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>ENTERPRISE PRODUCTS OPER</name>
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        <name>RENAISSANCERE HOLDINGS L</name>
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        <name>REGIONS FINANCIAL CORP</name>
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      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS L</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd</title>
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          <isin value="US75968N3098"/>
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      <invstOrSec>
        <name>TPG RE FINANCE TRUST INC</name>
        <lei>N/A</lei>
        <title>TPG RE Finance Trust Inc</title>
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          <isin value="US87266M2061"/>
          <ticker value="TRTX"/>
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        <curCd>USD</curCd>
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        <name>RAYMOND JAMES FINANCIAL</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial Inc</title>
        <cusip>754730406</cusip>
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          <isin value="US7547304060"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FULTON FINANCIAL CORP</name>
        <lei>5493005QLZ6O1BNC0C11</lei>
        <title>Fulton Financial Corp</title>
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          <isin value="US3602713089"/>
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      <invstOrSec>
        <name>AERCAP HOLDINGS NV</name>
        <lei>549300SZYINBBLJQU475</lei>
        <title>AerCap Holdings NV</title>
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        <name>TRUIST FINANCIAL CORP</name>
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        <title>Truist Financial Corp</title>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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        <name>BANCO MERCANTIL DE NORTE</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA/Grand Cayman</title>
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          <isin value="US05971PAB40"/>
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        <balance>420000.00000000</balance>
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          <maturityDt>N/A</maturityDt>
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        <name>DIME COMMUNITY BANCSHARE</name>
        <lei>0002487650</lei>
        <title>Dime Community Bancshares Inc</title>
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          <ticker value="DCOM"/>
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        <name>FIRST REPUBLIC BANK</name>
        <lei>YWC0TIKBQM2JV8L4IV08</lei>
        <title>First Republic Bank/CA</title>
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        <name>VISTRA CORP</name>
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        <title>Vistra Corp</title>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <title>Lloyds Banking Group PLC</title>
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        <name>GENERAL MOTORS FINL CO</name>
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        <title>General Motors Financial Co Inc</title>
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        <name>KUVARE US HOLDINGS INC</name>
        <lei>254900MGBERNLZXF7O58</lei>
        <title>Kuvare US Holdings Inc</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>BALTA GROUP NV</name>
        <lei>N/A</lei>
        <title>LEHMAN BROS HLDG-ESCROW</title>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>SOUTHERN CAL EDISON</name>
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        <title>Southern California Edison Co</title>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
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        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc</title>
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        <balance>3350000.00000000</balance>
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      <invstOrSec>
        <name>QBE INSURANCE GROUP LTD</name>
        <lei>549300D2FBW76FPUSG65</lei>
        <title>QBE Insurance Group Ltd</title>
        <cusip>74737EAA2</cusip>
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          <isin value="US74737EAA29"/>
          <other otherDesc="SEDOL" value="BD73HQ7"/>
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        <balance>3634000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3640575.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-24</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp</title>
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          <isin value="US14040HCF01"/>
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        <valUSD>611613.79000000</valUSD>
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        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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        <name>ARBOR REALTY TRUST INC</name>
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        <title>Arbor Realty Trust Inc</title>
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        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
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        <invCountry>GB</invCountry>
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          <maturityDt>N/A</maturityDt>
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        <name>BANCO MERCANTIL DE NORTE</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA/Grand Cayman</title>
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          <isin value="US05973KAB35"/>
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        <invCountry>MX</invCountry>
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        <name>BANCO BILBAO VIZCAYA ARG</name>
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        <title>Banco Bilbao Vizcaya Argentaria SA</title>
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        <invCountry>ES</invCountry>
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          <maturityDt>N/A</maturityDt>
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        <name>GENERAL MOTORS FINL CO</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co Inc</title>
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        <name>ARCH CAPITAL GROUP LTD</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd</title>
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          <ticker value="ACGL"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
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        <balance>300000.00000000</balance>
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        <valUSD>299130.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>SOCIETE GENERALE</name>
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        <name>METLIFE CAPITAL TRUST IV</name>
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        <name>SOCIETE GENERALE</name>
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        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <title>Delphi Financial Group Inc</title>
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      </invstOrSec>
      <invstOrSec>
        <name>COMERICA INC</name>
        <lei>I9Q57JVPWHHZ3ZGBW498</lei>
        <title>Comerica Inc</title>
        <cusip>200340AU1</cusip>
        <identifiers>
          <isin value="US200340AU17"/>
          <other otherDesc="SEDOL" value="BMH5P62"/>
        </identifiers>
        <balance>790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600084.00000000</valUSD>
        <pctVal>0.529996458260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp</title>
        <cusip>7591EP506</cusip>
        <identifiers>
          <isin value="US7591EP5063"/>
          <ticker value="RF"/>
        </identifiers>
        <balance>8627.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>188672.49000000</valUSD>
        <pctVal>0.166636256709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967NB3</cusip>
        <identifiers>
          <isin value="US172967NB34"/>
          <other otherDesc="SEDOL" value="BN72LH3"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243803.96000000</valUSD>
        <pctVal>0.215328579515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMED FINANCING III</name>
        <lei>N/A</lei>
        <title>ComEd Financing III</title>
        <cusip>20035AAA2</cusip>
        <identifiers>
          <isin value="US20035AAA25"/>
          <other otherDesc="SEDOL" value="B1HDN09"/>
        </identifiers>
        <balance>2102000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2084938.97000000</valUSD>
        <pctVal>1.841425983343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
        <cusip>174610204</cusip>
        <identifiers>
          <isin value="US1746102045"/>
          <ticker value="CFG"/>
        </identifiers>
        <balance>34400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>746480.00000000</valUSD>
        <pctVal>0.659293959115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613AJ7</cusip>
        <identifiers>
          <isin value="US902613AJ70"/>
          <other otherDesc="SEDOL" value="BM94BZ8"/>
        </identifiers>
        <balance>580000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>451299.55000000</valUSD>
        <pctVal>0.398589469331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
        <cusip>759351885</cusip>
        <identifiers>
          <isin value="US7593518852"/>
          <ticker value="RGA"/>
        </identifiers>
        <balance>41400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1060254.00000000</valUSD>
        <pctVal>0.936420342578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYNOVUS FINANCIAL CORP</name>
        <lei>549300EIUS8UN5JTLE54</lei>
        <title>Synovus Financial Corp</title>
        <cusip>87161C709</cusip>
        <identifiers>
          <isin value="US87161C7092"/>
          <ticker value="SNV"/>
        </identifiers>
        <balance>63135.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1277221.05000000</valUSD>
        <pctVal>1.128046461687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967341</cusip>
        <identifiers>
          <isin value="US1729673418"/>
          <ticker value="C"/>
        </identifiers>
        <balance>115370.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2898094.40000000</valUSD>
        <pctVal>2.559607934394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial Inc</title>
        <cusip>02005NBM1</cusip>
        <identifiers>
          <isin value="US02005NBM11"/>
          <other otherDesc="SEDOL" value="BN7N9G1"/>
        </identifiers>
        <balance>960000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>682296.00000000</valUSD>
        <pctVal>0.602606407577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Security reported as PREFERRED EQUITY on Form N-PORT per market convention; reported as CORPORATE DEBT SECURITY on SOI of Form N-CSR/N-CSRS per specific terms of security. 74913G873:74913G881:989701818." noteItem="C.4.a"/>
      <explntrNote note="Security reported as DEBT on Form N-PORT per market convention; reported as PREFERRED STOCK &amp; HYBRID PREFERRED SECURITIES on SOI of Form N-CSR/N-CSRS per specific terms of security. 00440FAA2:00773HAA5:00774YAA7:015857AH8:02005NBM1:02005NBN9:02369GAA3:025537AU5:025816CH0:026874BS5:03765HAE1:054536AC1:05463HAC5:060505EL4:060505EU4:060505FL3:060505GB4:06055HAB9:11102AAG6:14040HCF0:15189TAS6:808513BD6:172967JM4:172967MK4:172967MU2:172967MV0:172967NB3:172967PC9:174610AQ8:19075QAC6:20035AAA2:200340AU1:20453QAA0:254709AQ1:25746UDM8:281020AS6:281020AT4:290876AD3:29250NAN5:29250NBC8:29273VAM2:29360AAA8:29360AAB6:29379VBN2:29452EAA9:299808AE5:37045XCA2:37045XCM6:37045XDB9:37959GAC1:38144GAB7:38148BAE8:40427LAB0:446150AL8:446150AT1:446150AV6:46625HJQ4:48126HAA8:48128BAN1:50149XAA2:514666AK2:514666AM8:514666AN6:53079EAN4:53079EBM5:534187BR9:55261FAG9:55261FAN4:591560AA5:59156RAV0:59156RBS6:61745VAB9:302570AX4:65473PAG0:92556HAE7:69331VAA4:693475BC8:693475BD6:693475BF1:693475BP9:743863AA0:744320BK7:744320BL5:7591EPAR1:78397DAA6:78397DAC2:816851BK4:816851BM0:842400FU2:842587DJ3:89356BAB4:89356BAE8:89832QAE9:89832QAF6:92840MAC6:92857WBQ2:949746RN3:949746TD3:989701BF3." noteItem="C.4.a"/>
      <explntrNote note="Security reported as DEBT on Form N-PORT per market convention; reported as CONTINGENT CAPITAL SECURITY on SOI of Form N-CSR/N-CSRS per specific terms of security. 05254HAA2:05946KAF8:05946KAG6:05962GAJ8:05971PAB4:05973KAB3:05971KAH2:06738EBA2:06738EBG9:06738EBN4:06738EBT1:06738EBX2:05533UAG3:05565AAN3:05565AM34:05565AS20:05565ASK0:225313AD7:225313AP0:251525AX9:404280BL2:404280BP3:456837AY9:539439AU3:53944YAQ6:53944YAV5:556079AB7:639057AD0:74728GAE0:74737EAA2:83367TBU2:83368JFA3:83370RAA6:83370RAB4:83370RAC2:853254BX7:853254CM0:902613AD0:902613AJ7:90352JAF0." noteItem="C.4.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-07-18</ncom:dateSigned>
      <ncom:nameOfApplicant>Flaherty &amp; Crumrine Preferred &amp; Income Opportunity Fund Inc</ncom:nameOfApplicant>
      <ncom:signature>Bradford Stone </ncom:signature>
      <ncom:signerName>Bradford Stone </ncom:signerName>
      <ncom:title>Chief Financial Officer, Treasurer and Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
