John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $16.01 and traded as low as $15.94. John Hancock Preferred Income Fund II shares last traded at $16.05, with a volume of 38,954 shares trading hands.

John Hancock Preferred Income Fund II Stock Performance

The company has a 50-day moving average of $16.01 and a 200 day moving average of $16.63.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 9.23%. The ex-dividend date is Monday, May 12th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors and hedge funds have recently bought and sold shares of HPF. Wolverine Asset Management LLC bought a new position in shares of John Hancock Preferred Income Fund II in the 4th quarter worth $203,000. Raymond James Financial Inc. purchased a new position in John Hancock Preferred Income Fund II in the fourth quarter worth $284,000. LPL Financial LLC increased its stake in John Hancock Preferred Income Fund II by 10.9% in the fourth quarter. LPL Financial LLC now owns 43,680 shares of the company’s stock valued at $723,000 after acquiring an additional 4,290 shares during the last quarter. Wells Fargo & Company MN raised its position in John Hancock Preferred Income Fund II by 58.1% during the fourth quarter. Wells Fargo & Company MN now owns 29,550 shares of the company’s stock valued at $489,000 after purchasing an additional 10,854 shares in the last quarter. Finally, Invesco Ltd. raised its position in John Hancock Preferred Income Fund II by 7.5% during the fourth quarter. Invesco Ltd. now owns 155,210 shares of the company’s stock valued at $2,569,000 after purchasing an additional 10,847 shares in the last quarter.

About John Hancock Preferred Income Fund II

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.