John Hancock Preferred Income Fund (NYSE:HPI) Share Price Crosses Below Fifty Day Moving Average of $16.28

John Hancock Preferred Income Fund (NYSE:HPI) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $16.28 and traded as low as $15.60. John Hancock Preferred Income Fund shares last traded at $15.70, with a volume of 54,460 shares.

John Hancock Preferred Income Fund Stock Down 0.1 %

The business has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $15.39.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, April 11th will be paid a $0.1235 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $1.48 dividend on an annualized basis and a yield of 9.44%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

A number of institutional investors have recently added to or reduced their stakes in HPI. Global Retirement Partners LLC bought a new position in John Hancock Preferred Income Fund in the 4th quarter worth about $27,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings in shares of John Hancock Preferred Income Fund by 549.4% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,000 shares of the company’s stock valued at $38,000 after buying an additional 1,692 shares in the last quarter. CWM LLC purchased a new position in shares of John Hancock Preferred Income Fund during the 1st quarter valued at about $58,000. JPMorgan Chase & Co. purchased a new position in shares of John Hancock Preferred Income Fund during the 1st quarter valued at about $103,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of John Hancock Preferred Income Fund by 21.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,432 shares of the company’s stock valued at $135,000 after buying an additional 1,465 shares in the last quarter.

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.