John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Increase in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 36,100 shares, a growth of 58.3% from the November 30th total of 22,800 shares. Based on an average daily volume of 120,100 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Several institutional investors have recently bought and sold shares of PDT. Mercer Global Advisors Inc. ADV purchased a new position in shares of John Hancock Premium Dividend Fund in the second quarter valued at approximately $164,000. J.W. Cole Advisors Inc. lifted its position in shares of John Hancock Premium Dividend Fund by 7.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,921 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 1,221 shares during the last quarter. HighTower Advisors LLC purchased a new stake in John Hancock Premium Dividend Fund during the 3rd quarter worth about $212,000. EP Wealth Advisors LLC purchased a new position in shares of John Hancock Premium Dividend Fund in the 3rd quarter valued at about $229,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in John Hancock Premium Dividend Fund during the third quarter worth approximately $291,000. 12.98% of the stock is owned by institutional investors and hedge funds.

John Hancock Premium Dividend Fund Price Performance

Shares of NYSE PDT opened at $12.50 on Monday. John Hancock Premium Dividend Fund has a 52-week low of $10.41 and a 52-week high of $13.55. The business’s 50 day moving average is $12.82 and its two-hundred day moving average is $12.61.

John Hancock Premium Dividend Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, December 12th will be paid a dividend of $0.0825 per share. This represents a $0.99 annualized dividend and a yield of 7.92%. The ex-dividend date is Thursday, December 12th.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund is a closed ended equity 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 markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.