Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Rises By 74.4%

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 30,700 shares, a growth of 74.4% from the February 28th total of 17,600 shares. Based on an average daily volume of 41,400 shares, the days-to-cover ratio is presently 0.7 days.

John Hancock Preferred Income Fund II Stock Performance

HPF stock traded up $0.01 during trading on Friday, hitting $16.70. The company had a trading volume of 32,726 shares, compared to its average volume of 42,014. The firm has a 50-day moving average price of $16.89 and a 200-day moving average price of $17.28. John Hancock Preferred Income Fund II has a 12 month low of $15.39 and a 12 month high of $19.00.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.88%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new position in John Hancock Preferred Income Fund II during the 4th quarter valued at about $203,000. MSH Capital Advisors LLC acquired a new position in John Hancock Preferred Income Fund II in the fourth quarter valued at approximately $205,000. Raymond James Financial Inc. bought a new position in John Hancock Preferred Income Fund II in the fourth quarter valued at approximately $284,000. Vanguard Capital Wealth Advisors grew its holdings in John Hancock Preferred Income Fund II by 58.3% during the 4th quarter. Vanguard Capital Wealth Advisors now owns 19,000 shares of the company’s stock worth $314,000 after acquiring an additional 7,000 shares during the period. Finally, Bank of America Corp DE raised its position in shares of John Hancock Preferred Income Fund II by 36.8% during the 4th quarter. Bank of America Corp DE now owns 20,035 shares of the company’s stock valued at $332,000 after acquiring an additional 5,390 shares during the last quarter.

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.