John Hancock Preferred Income Fund III (NYSE:HPS) Shares Cross Below 50 Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.49 and traded as low as $14.30. John Hancock Preferred Income Fund III shares last traded at $14.38, with a volume of 56,267 shares changing hands.

John Hancock Preferred Income Fund III Trading Down 0.2%

The business has a fifty day simple moving average of $14.47 and a 200-day simple moving average of $14.52.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) annualized dividend and a yield of 9.2%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of John Hancock Preferred Income Fund III by 3.4% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock worth $368,000 after purchasing an additional 844 shares in the last quarter. Bank of America Corp DE increased its position in John Hancock Preferred Income Fund III by 0.6% in the 3rd quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after buying an additional 898 shares in the last quarter. Focus Financial Network Inc. raised its stake in John Hancock Preferred Income Fund III by 8.5% during the 4th quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock worth $183,000 after buying an additional 1,000 shares during the period. HighTower Advisors LLC grew its stake in John Hancock Preferred Income Fund III by 6.7% in the fourth quarter. HighTower Advisors LLC now owns 22,666 shares of the company’s stock valued at $327,000 after acquiring an additional 1,433 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of John Hancock Preferred Income Fund III by 9.8% during the first quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock valued at $316,000 after acquiring an additional 1,987 shares in the last quarter.

John Hancock Preferred Income Fund III Company Profile

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.