John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Update

John Hancock Preferred Income Fund (NYSE:HPI) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 21,300 shares, a drop of 33.2% from the November 15th total of 31,900 shares. Based on an average trading volume of 44,600 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of HPI. US Bancorp DE purchased a new position in John Hancock Preferred Income Fund during the third quarter valued at approximately $95,000. Wedbush Securities Inc. increased its holdings in shares of John Hancock Preferred Income Fund by 5.3% during the 2nd quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock valued at $199,000 after purchasing an additional 600 shares in the last quarter. SAM Advisors LLC lifted its stake in shares of John Hancock Preferred Income Fund by 3.4% in the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock valued at $510,000 after purchasing an additional 886 shares during the period. Raymond James & Associates boosted its holdings in John Hancock Preferred Income Fund by 1.7% during the second quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock worth $1,338,000 after buying an additional 1,351 shares in the last quarter. Finally, Fiera Capital Corp grew its position in John Hancock Preferred Income Fund by 1.5% during the third quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after buying an additional 1,170 shares during the period.

John Hancock Preferred Income Fund Stock Down 0.1 %

John Hancock Preferred Income Fund stock traded down $0.01 during trading hours on Friday, hitting $17.01. 36,113 shares of the stock traded hands, compared to its average volume of 51,471. The firm’s 50 day moving average price is $17.91 and its 200-day moving average price is $17.53. John Hancock Preferred Income Fund has a 1 year low of $15.23 and a 1 year high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 12th will be given a $0.1235 dividend. The ex-dividend date is Thursday, December 12th. This represents a $1.48 dividend on an annualized basis and a yield of 8.71%.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.