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

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 27,600 shares, a decrease of 23.1% from the October 15th total of 35,900 shares. Based on an average daily trading volume, of 37,500 shares, the short-interest ratio is currently 0.7 days.

John Hancock Preferred Income Fund II Stock Down 0.8 %

Shares of John Hancock Preferred Income Fund II stock opened at $17.25 on Friday. John Hancock Preferred Income Fund II has a 12 month low of $14.41 and a 12 month high of $19.00. The stock’s fifty day simple moving average is $18.10 and its 200 day simple moving average is $17.35.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 8.59%. The ex-dividend date is Tuesday, November 12th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in John Hancock Preferred Income Fund II in the third quarter valued at approximately $33,000. Cornerstone Advisors LLC acquired a new position in John Hancock Preferred Income Fund II in the 3rd quarter worth $69,000. Cetera Advisors LLC bought a new position in John Hancock Preferred Income Fund II during the 1st quarter worth about $180,000. Simplicity Wealth LLC acquired a new stake in shares of John Hancock Preferred Income Fund II in the 2nd quarter valued at about $285,000. Finally, Wedbush Securities Inc. lifted its holdings in shares of John Hancock Preferred Income Fund II by 20.2% in the second quarter. Wedbush Securities Inc. now owns 22,229 shares of the company’s stock valued at $377,000 after purchasing an additional 3,729 shares in the last quarter.

John Hancock Preferred Income Fund II Company Profile

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.