John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.22 and traded as high as $11.57. John Hancock Hedged Equity & Income Fund shares last traded at $11.4030, with a volume of 18,113 shares.

John Hancock Hedged Equity & Income Fund Stock Down 0.1%

The firm’s fifty day simple moving average is $11.53 and its 200 day simple moving average is $11.22.

John Hancock Hedged Equity & Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.8%. The ex-dividend date was Thursday, June 11th.

Hedge Funds Weigh In On John Hancock Hedged Equity & Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bulldog Investors LLP lifted its holdings in shares of John Hancock Hedged Equity & Income Fund by 46.2% in the first quarter. Bulldog Investors LLP now owns 558,291 shares of the investment management company’s stock valued at $6,063,000 after purchasing an additional 176,527 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of John Hancock Hedged Equity & Income Fund by 4.1% during the first quarter. Bank of America Corp DE now owns 304,521 shares of the investment management company’s stock valued at $3,307,000 after buying an additional 11,907 shares in the last quarter. Saba Capital Management L.P. raised its position in John Hancock Hedged Equity & Income Fund by 11.0% during the fourth quarter. Saba Capital Management L.P. now owns 281,328 shares of the investment management company’s stock valued at $3,024,000 after buying an additional 27,958 shares during the period. 1607 Capital Partners LLC lifted its stake in John Hancock Hedged Equity & Income Fund by 6.1% in the 4th quarter. 1607 Capital Partners LLC now owns 129,782 shares of the investment management company’s stock worth $1,395,000 after acquiring an additional 7,442 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in John Hancock Hedged Equity & Income Fund by 28.9% in the 4th quarter. Invesco Ltd. now owns 119,455 shares of the investment management company’s stock worth $1,284,000 after acquiring an additional 26,747 shares in the last quarter.

About John Hancock Hedged Equity & Income Fund

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.