Short Interest in John Hancock Preferred Income Fund (NYSE:HPI) Decreases By 9.4%

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 81,300 shares, a decline of 9.4% from the January 15th total of 89,700 shares. Based on an average daily trading volume, of 48,500 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of John Hancock Preferred Income Fund

Several hedge funds have recently made changes to their positions in the business. SAM Advisors LLC grew its stake in John Hancock Preferred Income Fund by 3.4% during the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock worth $510,000 after purchasing an additional 886 shares in the last quarter. Fiera Capital Corp raised its position in John Hancock Preferred Income Fund by 1.5% in the 3rd quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after purchasing an additional 1,170 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of John Hancock Preferred Income Fund by 2.7% in the 4th quarter. Level Four Advisory Services LLC now owns 45,653 shares of the company’s stock valued at $759,000 after buying an additional 1,218 shares during the period. WASHINGTON TRUST Co acquired a new position in shares of John Hancock Preferred Income Fund during the fourth quarter worth about $26,000. Finally, Tandem Financial LLC purchased a new stake in shares of John Hancock Preferred Income Fund during the fourth quarter worth approximately $40,000.

John Hancock Preferred Income Fund Price Performance

Shares of HPI stock traded down $0.02 on Monday, hitting $17.54. The stock had a trading volume of 42,469 shares, compared to its average volume of 44,052. The company’s 50 day moving average price is $16.99 and its 200-day moving average price is $17.55. John Hancock Preferred Income Fund has a 1 year low of $15.26 and a 1 year high of $19.43.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.48 dividend on an annualized basis and a yield of 8.45%.

John Hancock Preferred Income Fund Company Profile

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.