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

John Hancock Preferred Income Fund II (NYSE:HPF) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 30,700 shares, an increase of 74.4% from the February 28th total of 17,600 shares. Based on an average trading volume of 41,400 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of John Hancock Preferred Income Fund II by 7.5% in the fourth quarter. Invesco Ltd. now owns 155,210 shares of the company’s stock valued at $2,569,000 after buying an additional 10,847 shares in the last quarter. Stifel Financial Corp grew its stake in John Hancock Preferred Income Fund II by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 141,507 shares of the company’s stock valued at $2,639,000 after acquiring an additional 1,465 shares during the period. LPL Financial LLC raised its position in John Hancock Preferred Income Fund II by 10.9% during the fourth quarter. LPL Financial LLC now owns 43,680 shares of the company’s stock worth $723,000 after acquiring an additional 4,290 shares during the period. Cohen & Steers Inc. acquired a new position in John Hancock Preferred Income Fund II during the fourth quarter worth $575,000. Finally, Cetera Investment Advisers lifted its holdings in John Hancock Preferred Income Fund II by 4.3% during the fourth quarter. Cetera Investment Advisers now owns 31,305 shares of the company’s stock valued at $518,000 after purchasing an additional 1,296 shares in the last quarter.

John Hancock Preferred Income Fund II Stock Performance

Shares of HPF traded up $0.01 during trading hours on Friday, hitting $16.70. The stock had a trading volume of 32,726 shares, compared to its average volume of 42,014. The firm has a 50-day moving average price of $16.89 and a 200 day moving average price of $17.28. John Hancock Preferred Income Fund II has a fifty-two week low of $15.39 and a fifty-two week high of $19.00.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.88%. The ex-dividend date of this dividend is Thursday, March 13th.

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.