John Hancock Preferred Income Fund Plans Monthly Dividend of $0.12 (NYSE:HPI)

John Hancock Preferred Income Fund (NYSE:HPI) declared a monthly dividend on Monday, June 1st. Shareholders of record on Thursday, June 11th will be paid a dividend of 0.1235 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Thursday, June 11th.

John Hancock Preferred Income Fund Stock Performance

Shares of HPI stock opened at $16.17 on Tuesday. The business has a 50 day moving average of $15.95 and a two-hundred day moving average of $16.24. John Hancock Preferred Income Fund has a 52 week low of $15.26 and a 52 week high of $17.61.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

A number of institutional investors have recently added to or reduced their stakes in HPI. Huntington National Bank acquired a new stake in John Hancock Preferred Income Fund in the third quarter worth approximately $35,000. Arax Advisory Partners bought a new position in shares of John Hancock Preferred Income Fund in the fourth quarter valued at $37,000. Birchwood Financial Partners Inc. bought a new position in shares of John Hancock Preferred Income Fund in the fourth quarter valued at $73,000. Allworth Financial LP increased its holdings in shares of John Hancock Preferred Income Fund by 47.7% in the third quarter. Allworth Financial LP now owns 6,260 shares of the company’s stock valued at $109,000 after buying an additional 2,023 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of John Hancock Preferred Income Fund in the fourth quarter valued at $177,000.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.