John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Down 60.0% in February

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 17,600 shares, a decline of 60.0% from the February 13th total of 44,000 shares. Based on an average daily volume of 44,600 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Investment Advisers increased its stake in John Hancock Preferred Income Fund II by 4.3% during the fourth quarter. Cetera Investment Advisers now owns 31,305 shares of the company’s stock worth $518,000 after acquiring an additional 1,296 shares during the last quarter. Stifel Financial Corp increased its position in John Hancock Preferred Income Fund II by 1.0% during the 3rd quarter. Stifel Financial Corp now owns 141,507 shares of the company’s stock worth $2,639,000 after purchasing an additional 1,465 shares in the last quarter. Cornerstone Advisors LLC purchased a new position in John Hancock Preferred Income Fund II in the third quarter valued at approximately $69,000. LPL Financial LLC lifted its position in John Hancock Preferred Income Fund II by 10.9% during the fourth quarter. LPL Financial LLC now owns 43,680 shares of the company’s stock valued at $723,000 after buying an additional 4,290 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in John Hancock Preferred Income Fund II by 36.8% during the fourth quarter. Bank of America Corp DE now owns 20,035 shares of the company’s stock worth $332,000 after buying an additional 5,390 shares during the period.

John Hancock Preferred Income Fund II Stock Up 0.2 %

Shares of HPF traded up $0.03 during mid-day trading on Thursday, hitting $16.44. The company’s stock had a trading volume of 10,725 shares, compared to its average volume of 41,038. John Hancock Preferred Income Fund II has a 1-year low of $15.39 and a 1-year high of $19.00. The firm has a 50-day simple moving average of $16.85 and a 200 day simple moving average of $17.31.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be given a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a yield of 9.02%. The ex-dividend date is Thursday, March 13th.

John Hancock Preferred Income Fund II Company Profile

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.