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

by · The Cerbat Gem

John Hancock Preferred Income Fund II (NYSE:HPF – Get Free Report) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 15,100 shares, a growth of 268.3% from the August 31st total of 4,100 shares. Based on an average trading volume of 40,800 shares, the days-to-cover ratio is currently 0.4 days.

John Hancock Preferred Income Fund II Stock Up 0.7 %

John Hancock Preferred Income Fund II stock traded up $0.12 during trading on Friday, reaching $18.27. The stock had a trading volume of 31,848 shares, compared to its average volume of 42,460. John Hancock Preferred Income Fund II has a 52-week low of $12.99 and a 52-week high of $18.42. The business has a 50 day moving average price of $17.04 and a 200 day moving average price of $16.86.

John Hancock Preferred Income Fund II Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.1235 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.48 dividend on an annualized basis and a yield of 8.11%. This is an increase from John Hancock Preferred Income Fund II’s previous monthly dividend of $0.12.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HPF. Cetera Advisors LLC acquired a new stake in John Hancock Preferred Income Fund II during the first quarter worth approximately $180,000. Simplicity Wealth LLC acquired a new stake in John Hancock Preferred Income Fund II during the second quarter worth approximately $285,000. Private Advisor Group LLC raised its holdings in John Hancock Preferred Income Fund II by 5.5% during the first quarter. Private Advisor Group LLC now owns 21,297 shares of the company’s stock worth $352,000 after purchasing an additional 1,106 shares in the last quarter. Wedbush Securities Inc. raised its holdings in John Hancock Preferred Income Fund II by 20.2% during the second quarter. Wedbush Securities Inc. now owns 22,229 shares of the company’s stock worth $377,000 after purchasing an additional 3,729 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in John Hancock Preferred Income Fund II by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock worth $1,104,000 after purchasing an additional 3,361 shares in the last quarter.

About John Hancock Preferred Income Fund II

(Get Free Report)

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.

See Also