John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 126,100 shares, a drop of 17.4% from the September 15th total of 152,600 shares. Based on an average trading volume of 45,800 shares, the short-interest ratio is currently 2.8 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Concourse Financial Group Securities Inc. acquired a new position in shares of John Hancock Preferred Income Fund III in the first quarter worth $25,000. Cetera Investment Advisers purchased a new stake in John Hancock Preferred Income Fund III during the 1st quarter worth about $1,947,000. Cetera Advisors LLC purchased a new stake in John Hancock Preferred Income Fund III during the 1st quarter worth about $199,000. Pine Valley Investments Ltd Liability Co raised its stake in John Hancock Preferred Income Fund III by 10.6% in the 2nd quarter. Pine Valley Investments Ltd Liability Co now owns 18,841 shares of the company’s stock valued at $298,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in John Hancock Preferred Income Fund III in the 2nd quarter valued at about $2,512,000.

John Hancock Preferred Income Fund III Trading Down 1.1 %

HPS opened at $16.87 on Monday. John Hancock Preferred Income Fund III has a one year low of $11.79 and a one year high of $17.25. The business’s fifty day moving average is $16.48 and its two-hundred day moving average is $15.87.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, October 11th. This represents a $1.32 annualized dividend and a yield of 7.82%.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III 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.