John Hancock Preferred Income Fund (NYSE:HPI) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Shares of John Hancock Preferred Income Fund (NYSE:HPI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.52 and traded as low as $17.08. John Hancock Preferred Income Fund shares last traded at $17.17, with a volume of 45,546 shares trading hands.

John Hancock Preferred Income Fund Trading Up 0.1 %

The stock’s fifty day simple moving average is $17.00 and its two-hundred day simple moving average is $17.52.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.1235 per share. The ex-dividend date is Monday, December 30th. This represents a $1.48 annualized dividend and a yield of 8.63%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of HPI. US Bancorp DE bought a new stake in shares of John Hancock Preferred Income Fund in the 3rd quarter worth approximately $95,000. Merit Financial Group LLC acquired a new stake in John Hancock Preferred Income Fund in the fourth quarter worth $175,000. SAM Advisors LLC lifted its stake in John Hancock Preferred Income Fund by 3.4% in the third quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock valued at $510,000 after buying an additional 886 shares during the last quarter. Finally, Fiera Capital Corp boosted its holdings in shares of John Hancock Preferred Income Fund by 1.5% during the third quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after acquiring an additional 1,170 shares during the period.

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.