John Hancock Preferred Income Fund II (NYSE:HPF) Sees Significant Increase in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 15,100 shares, a growth of 268.3% from the August 31st total of 4,100 shares. Based on an average trading volume of 40,800 shares, the days-to-cover ratio is currently 0.4 days.

John Hancock Preferred Income Fund II Stock Up 0.7 %

John Hancock Preferred Income Fund II stock traded up $0.12 during trading on Friday, reaching $18.27. The stock had a trading volume of 31,848 shares, compared to its average volume of 42,460. John Hancock Preferred Income Fund II has a 52-week low of $12.99 and a 52-week high of $18.42. The business has a 50 day moving average price of $17.04 and a 200 day moving average price of $16.86.

John Hancock Preferred Income Fund II Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.1235 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 8.11%. This is an increase from John Hancock Preferred Income Fund II’s previous monthly dividend of $0.12.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HPF. Cetera Advisors LLC acquired a new stake in John Hancock Preferred Income Fund II during the first quarter worth approximately $180,000. Simplicity Wealth LLC acquired a new stake in John Hancock Preferred Income Fund II during the second quarter worth approximately $285,000. Private Advisor Group LLC raised its holdings in John Hancock Preferred Income Fund II by 5.5% during the first quarter. Private Advisor Group LLC now owns 21,297 shares of the company’s stock worth $352,000 after purchasing an additional 1,106 shares in the last quarter. Wedbush Securities Inc. raised its holdings in John Hancock Preferred Income Fund II by 20.2% during the second quarter. Wedbush Securities Inc. now owns 22,229 shares of the company’s stock worth $377,000 after purchasing an additional 3,729 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in John Hancock Preferred Income Fund II by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock worth $1,104,000 after purchasing an additional 3,361 shares in the last quarter.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.