John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Significant Increase in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 43,200 shares, an increase of 148.3% from the May 15th total of 17,400 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 31,200 shares, the days-to-cover ratio is currently 1.4 days.

John Hancock Preferred Income ETF Price Performance

Shares of JHPI traded down $0.05 during mid-day trading on Friday, reaching $22.42. 25,074 shares of the company’s stock were exchanged, compared to its average volume of 18,242. The stock has a market capitalization of $74.66 million, a PE ratio of 60.41 and a beta of 0.41. The business’s fifty day simple moving average is $22.18 and its 200-day simple moving average is $22.52. John Hancock Preferred Income ETF has a 52-week low of $21.57 and a 52-week high of $23.49.

John Hancock Preferred Income ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were given a dividend of $0.1372 per share. The ex-dividend date of this dividend was Thursday, March 27th. This is a positive change from John Hancock Preferred Income ETF’s previous dividend of $0.13.

Hedge Funds Weigh In On John Hancock Preferred Income ETF

A number of hedge funds have recently modified their holdings of JHPI. Sanctuary Advisors LLC grew its position in shares of John Hancock Preferred Income ETF by 4.8% during the fourth quarter. Sanctuary Advisors LLC now owns 100,249 shares of the company’s stock worth $2,280,000 after acquiring an additional 4,574 shares during the last quarter. Atria Investments Inc grew its position in shares of John Hancock Preferred Income ETF by 5.1% during the fourth quarter. Atria Investments Inc now owns 96,184 shares of the company’s stock worth $2,167,000 after acquiring an additional 4,676 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of John Hancock Preferred Income ETF by 25.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,709 shares of the company’s stock worth $444,000 after acquiring an additional 3,957 shares during the last quarter. 1620 Investment Advisors Inc. grew its position in shares of John Hancock Preferred Income ETF by 4.9% during the fourth quarter. 1620 Investment Advisors Inc. now owns 52,159 shares of the company’s stock worth $1,175,000 after acquiring an additional 2,419 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of John Hancock Preferred Income ETF during the fourth quarter worth approximately $942,000.

John Hancock Preferred Income ETF Company Profile

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.