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 passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.88 and traded as low as $15.71. John Hancock Preferred Income Fund II shares last traded at $15.7540, with a volume of 40,717 shares traded.

John Hancock Preferred Income Fund II Stock Performance

The stock’s 50 day simple moving average is $15.88 and its 200-day simple moving average is $15.99.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.1235 per share. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a yield of 9.4%.

Institutional Trading of John Hancock Preferred Income Fund II

Institutional investors and hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC purchased a new stake in John Hancock Preferred Income Fund II during the first quarter worth about $66,000. Jane Street Group LLC purchased a new stake in John Hancock Preferred Income Fund II during the fourth quarter worth about $180,000. Readystate Asset Management LP purchased a new stake in John Hancock Preferred Income Fund II during the third quarter worth about $195,000. Kestra Private Wealth Services LLC purchased a new stake in John Hancock Preferred Income Fund II during the fourth quarter worth about $322,000. Finally, NewEdge Advisors LLC increased its stake in John Hancock Preferred Income Fund II by 4.0% during the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after purchasing an additional 770 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.