John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund III (NYSE:HPS) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.52 and traded as high as $14.62. John Hancock Preferred Income Fund III shares last traded at $14.4550, with a volume of 48,514 shares.

John Hancock Preferred Income Fund III Trading Down 0.2%

The business has a 50-day moving average price of $14.52 and a 200-day moving average price of $14.53.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be paid a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date is Thursday, June 11th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several institutional investors have recently added to or reduced their stakes in HPS. Western Wealth Management LLC acquired a new stake in John Hancock Preferred Income Fund III in the 1st quarter worth approximately $459,000. Royal Bank of Canada increased its stake in John Hancock Preferred Income Fund III by 2.1% during the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after purchasing an additional 3,323 shares in the last quarter. Fifth Third Bancorp acquired a new position in John Hancock Preferred Income Fund III during the 1st quarter valued at approximately $92,000. Janney Montgomery Scott LLC raised its holdings in shares of John Hancock Preferred Income Fund III by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock worth $316,000 after buying an additional 1,987 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. raised its holdings in shares of John Hancock Preferred Income Fund III by 3.4% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock worth $368,000 after buying an additional 844 shares during the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.