John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Stock Short Interest Rises 540.8%

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 25,696 shares, a growth of 540.8% from the September 15th total of 4,010 shares. Based on an average trading volume of 23,980 shares, the days-to-cover ratio is presently 1.1 days.

John Hancock Hedged Equity & Income Fund Price Performance

Shares of John Hancock Hedged Equity & Income Fund stock traded up $0.22 on Friday, reaching $11.30. 50,080 shares of the company’s stock were exchanged, compared to its average volume of 37,659. John Hancock Hedged Equity & Income Fund has a 52 week low of $10.46 and a 52 week high of $12.00. The firm’s 50-day moving average is $11.51 and its two-hundred day moving average is $11.44.

John Hancock Hedged Equity & Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date was Friday, September 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bulldog Investors LLP boosted its stake in 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 acquiring an additional 176,527 shares during the last quarter. Bank of America Corp DE increased its stake in shares of John Hancock Hedged Equity & Income Fund by 4.1% during the 1st quarter. Bank of America Corp DE now owns 304,521 shares of the investment management company’s stock worth $3,307,000 after purchasing an additional 11,907 shares during the last quarter. Advisory Solutions Group LLC purchased a new stake in shares of John Hancock Hedged Equity & Income Fund during the 2nd quarter worth approximately $119,000. PNC Financial Services Group Inc. purchased a new stake in shares of John Hancock Hedged Equity & Income Fund during the 1st quarter worth approximately $109,000. Finally, 1607 Capital Partners LLC raised its holdings in shares of 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 purchasing an additional 7,442 shares during the period.

About John Hancock Hedged Equity & Income Fund

John Hancock Hedged Equity & Income Fund is a closed-end investment company that seeks to provide investors with current income and long-term capital appreciation. The fund invests in a diversified portfolio of equity and income-producing securities, including common stocks and other securities that may offer dividend or interest income.

The fund also uses hedging strategies, including investments in options and other derivative instruments, to help manage equity market exposure and potentially generate additional income.