John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Decrease in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totaling 38,708 shares, a decrease of 44.4% from the September 30th total of 69,679 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 168,177 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Pathway Financial Advisers LLC raised its stake in shares of John Hancock Premium Dividend Fund by 1.3% in the third quarter. Pathway Financial Advisers LLC now owns 232,538 shares of the real estate investment trust’s stock worth $2,725,000 after acquiring an additional 3,086 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in John Hancock Premium Dividend Fund by 10.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 10,502 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 968 shares during the period. Oppenheimer & Co. Inc. lifted its stake in John Hancock Premium Dividend Fund by 14.7% in the third quarter. Oppenheimer & Co. Inc. now owns 47,994 shares of the real estate investment trust’s stock valued at $562,000 after buying an additional 6,150 shares during the period. Axxcess Wealth Management LLC grew its position in shares of John Hancock Premium Dividend Fund by 7.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 645,219 shares of the real estate investment trust’s stock worth $7,562,000 after buying an additional 43,097 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in shares of John Hancock Premium Dividend Fund by 36.7% in the 3rd quarter. AdvisorNet Financial Inc now owns 14,898 shares of the real estate investment trust’s stock valued at $175,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Stock Down 0.1%

Shares of John Hancock Premium Dividend Fund stock traded down $0.01 during midday trading on Friday, reaching $12.04. 139,056 shares of the company’s stock traded hands, compared to its average volume of 141,358. The company’s 50 day simple moving average is $12.07 and its 200 day simple moving average is $12.78. John Hancock Premium Dividend Fund has a 52 week low of $11.49 and a 52 week high of $13.65.

John Hancock Premium Dividend Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, October 30th. Investors of record on Tuesday, October 13th were paid a $0.0883 dividend. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 8.8%.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund (NYSE: PDT) is a diversified closed-end investment company managed by John Hancock Investment Management LLC. The fund seeks to provide investors with a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in income-producing securities, including preferred stocks and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities sector, although the fund may invest across other industries and in both domestic and international markets.