Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Increases By 485.7%

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 61,500 shares, a growth of 485.7% from the January 31st total of 10,500 shares. Based on an average daily volume of 67,500 shares, the short-interest ratio is presently 0.9 days.

John Hancock Preferred Income Fund III Stock Up 0.9 %

HPS stock traded up $0.14 during mid-day trading on Friday, reaching $15.37. The company had a trading volume of 81,342 shares, compared to its average volume of 55,259. John Hancock Preferred Income Fund III has a 52 week low of $14.09 and a 52 week high of $17.25. The stock has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $15.79.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 13th were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.32 dividend on an annualized basis and a yield of 8.59%.

Institutional Trading of John Hancock Preferred Income Fund III

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of John Hancock Preferred Income Fund III in the third quarter valued at approximately $34,000. BankPlus Trust Department bought a new stake in John Hancock Preferred Income Fund III in the 4th quarter valued at $38,000. Fifth Third Bancorp acquired a new stake in John Hancock Preferred Income Fund III during the 4th quarter valued at $41,000. US Bancorp DE bought a new position in John Hancock Preferred Income Fund III during the third quarter worth $76,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in John Hancock Preferred Income Fund III in the 3rd quarter valued at about $176,000.

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.