John Hancock Preferred Income Fund (NYSE:HPI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund (NYSE:HPI) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.55 and traded as high as $17.78. John Hancock Preferred Income Fund shares last traded at $17.68, with a volume of 28,095 shares trading hands.

John Hancock Preferred Income Fund Trading Down 0.2 %

The company has a fifty day moving average of $16.99 and a 200 day moving average of $17.55.

John Hancock Preferred Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Thursday, February 13th will be paid a $0.1235 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.38%. The ex-dividend date is Thursday, February 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. WASHINGTON TRUST Co acquired a new stake in John Hancock Preferred Income Fund in the 4th quarter valued at about $26,000. Tandem Financial LLC acquired a new stake in John Hancock Preferred Income Fund during the fourth quarter valued at approximately $40,000. Wolverine Asset Management LLC bought a new stake in John Hancock Preferred Income Fund during the fourth quarter worth approximately $44,000. US Bancorp DE acquired a new position in John Hancock Preferred Income Fund in the third quarter worth approximately $95,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in shares of John Hancock Preferred Income Fund in the fourth quarter valued at $127,000.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.