Short Interest in John Hancock Preferred Income Fund (NYSE:HPI) Declines By 31.3%

John Hancock Preferred Income Fund (NYSE:HPI) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 31,900 shares, a decline of 31.3% from the October 31st total of 46,400 shares. Based on an average trading volume of 44,400 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of John Hancock Preferred Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates raised its position in John Hancock Preferred Income Fund by 1.7% during the second quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,351 shares in the last quarter. TSP Capital Management Group LLC boosted its stake in John Hancock Preferred Income Fund by 1.1% in the second quarter. TSP Capital Management Group LLC now owns 126,865 shares of the company’s stock valued at $2,120,000 after buying an additional 1,400 shares in the last quarter. Commonwealth Equity Services LLC grew its position in John Hancock Preferred Income Fund by 1.3% in the second quarter. Commonwealth Equity Services LLC now owns 278,544 shares of the company’s stock valued at $4,654,000 after acquiring an additional 3,692 shares during the last quarter. Wedbush Securities Inc. raised its stake in John Hancock Preferred Income Fund by 5.3% during the second quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock worth $199,000 after acquiring an additional 600 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of John Hancock Preferred Income Fund during the 3rd quarter valued at approximately $95,000.

John Hancock Preferred Income Fund Stock Performance

NYSE HPI traded up $0.20 during trading hours on Friday, hitting $17.65. 25,307 shares of the company traded hands, compared to its average volume of 51,831. The business’s 50-day moving average is $18.18 and its 200-day moving average is $17.46. John Hancock Preferred Income Fund has a twelve month low of $14.69 and a twelve month high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Tuesday, November 12th.

John Hancock Preferred Income Fund Company Profile

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.