Short Interest in John Hancock Preferred Income Fund (NYSE:HPI) Grows By 22.2%

by · The Cerbat Gem

John Hancock Preferred Income Fund (NYSE:HPI – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 61,000 shares, a growth of 22.2% from the September 30th total of 49,900 shares. Based on an average daily trading volume, of 46,300 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HPI. Commonwealth Equity Services LLC boosted its holdings in John Hancock Preferred Income Fund by 9.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 274,852 shares of the company’s stock worth $4,571,000 after buying an additional 24,559 shares during the period. US Bancorp DE bought a new position in shares of John Hancock Preferred Income Fund during the 3rd quarter valued at about $95,000. Private Advisor Group LLC boosted its holdings in shares of John Hancock Preferred Income Fund by 10.5% during the 1st quarter. Private Advisor Group LLC now owns 21,964 shares of the company’s stock valued at $365,000 after purchasing an additional 2,086 shares during the last quarter. TSP Capital Management Group LLC boosted its holdings in shares of John Hancock Preferred Income Fund by 1.1% during the 2nd quarter. TSP Capital Management Group LLC now owns 126,865 shares of the company’s stock valued at $2,120,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of John Hancock Preferred Income Fund by 1.7% during the 2nd quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,351 shares during the last quarter.

John Hancock Preferred Income Fund Trading Up 0.5 %

John Hancock Preferred Income Fund stock traded up $0.09 during mid-day trading on Wednesday, hitting $18.00. The stock had a trading volume of 44,614 shares, compared to its average volume of 52,606. The firm’s 50 day moving average is $18.21 and its 200 day moving average is $17.24. John Hancock Preferred Income Fund has a one year low of $13.05 and a one year high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be issued a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 8.23%. The ex-dividend date is Friday, October 11th.

John Hancock Preferred Income Fund Company Profile

(Get Free Report)

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.

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