John Hancock Preferred Income Fund (NYSE:HPI) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund (NYSE:HPI)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $18.27 and traded as low as $17.61. John Hancock Preferred Income Fund shares last traded at $17.77, with a volume of 37,786 shares trading hands.

John Hancock Preferred Income Fund Stock Up 0.3 %

The firm’s fifty day simple moving average is $18.27 and its two-hundred day simple moving average is $17.32.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be issued a $0.1235 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.48 annualized dividend and a yield of 8.34%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. US Bancorp DE acquired a new position in John Hancock Preferred Income Fund in the 3rd quarter valued at about $95,000. SAM Advisors LLC lifted its holdings 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 worth $510,000 after acquiring an additional 886 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of John Hancock Preferred Income Fund by 1.5% in the 3rd quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock worth $1,489,000 after acquiring an additional 1,170 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of John Hancock Preferred Income Fund by 5.3% in the 2nd quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock worth $199,000 after acquiring an additional 600 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of John Hancock Preferred Income Fund by 1.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 278,544 shares of the company’s stock worth $4,654,000 after acquiring an additional 3,692 shares during the last quarter.

About John Hancock Preferred Income Fund

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.