John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Shares of John Hancock Preferred Income Fund II (NYSE:HPF) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.02 and traded as low as $17.51. John Hancock Preferred Income Fund II shares last traded at $17.61, with a volume of 28,280 shares changing hands.

John Hancock Preferred Income Fund II Stock Performance

The business’s 50-day simple moving average is $18.02 and its two-hundred day simple moving average is $17.30.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.1235 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.48 dividend on an annualized basis and a yield of 8.42%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HPF. Axim Planning & Wealth lifted its position in John Hancock Preferred Income Fund II by 120.3% during the second quarter. Axim Planning & Wealth now owns 368,273 shares of the company’s stock valued at $6,250,000 after buying an additional 201,080 shares in the last quarter. One Capital Management LLC acquired a new position in John Hancock Preferred Income Fund II during the second quarter valued at approximately $1,125,000. International Assets Investment Management LLC lifted its position in shares of John Hancock Preferred Income Fund II by 2,654.0% during the third quarter. International Assets Investment Management LLC now owns 23,271 shares of the company’s stock worth $434,000 after purchasing an additional 22,426 shares in the last quarter. Simplicity Wealth LLC acquired a new position in shares of John Hancock Preferred Income Fund II during the second quarter worth $285,000. Finally, Cetera Advisors LLC acquired a new position in shares of John Hancock Preferred Income Fund II during the first quarter worth $180,000.

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.