John Hancock Preferred Income Fund (NYSE:HPI) Sees Large Decrease in Short Interest

John Hancock Preferred Income Fund (NYSE:HPI) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 39,200 shares, a decrease of 20.5% from the February 28th total of 49,300 shares. Based on an average daily trading volume, of 45,600 shares, the days-to-cover ratio is presently 0.9 days.

John Hancock Preferred Income Fund Stock Up 0.1 %

John Hancock Preferred Income Fund stock traded up $0.02 during mid-day trading on Tuesday, reaching $16.61. The company’s stock had a trading volume of 13,836 shares, compared to its average volume of 40,965. The firm’s fifty day moving average price is $17.09 and its two-hundred day moving average price is $17.47. John Hancock Preferred Income Fund has a 12-month low of $15.26 and a 12-month high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 13th were paid a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 8.92%. The ex-dividend date of this dividend was Thursday, March 13th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. raised its holdings in shares of John Hancock Preferred Income Fund by 4.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 16,809 shares of the company’s stock valued at $282,000 after acquiring an additional 728 shares in the last quarter. Level Four Advisory Services LLC increased its position in shares of John Hancock Preferred Income Fund by 2.7% in the fourth quarter. Level Four Advisory Services LLC now owns 45,653 shares of the company’s stock worth $759,000 after purchasing an additional 1,218 shares during the last quarter. WASHINGTON TRUST Co bought a new stake in John Hancock Preferred Income Fund during the fourth quarter valued at approximately $26,000. Tandem Financial LLC bought a new position in shares of John Hancock Preferred Income Fund in the 4th quarter worth $40,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter valued at $44,000.

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.