John Hancock Income Securities Trust (NYSE:JHS) Stock Crosses Below Fifty Day Moving Average – Here’s Why

John Hancock Income Securities Trust (NYSE:JHS)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.00 and traded as low as $10.84. John Hancock Income Securities Trust shares last traded at $10.84, with a volume of 12,627 shares changing hands.

John Hancock Income Securities Trust Stock Performance

The business has a 50 day moving average of $11.00 and a 200-day moving average of $11.25.

John Hancock Income Securities Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 11th were issued a dividend of $0.1535 per share. This is a boost from John Hancock Income Securities Trust’s previous quarterly dividend of $0.14. This represents a $0.61 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverbridge Partners LLC raised its position in John Hancock Income Securities Trust by 158.3% during the fourth quarter. Riverbridge Partners LLC now owns 193,055 shares of the financial services provider’s stock worth $2,261,000 after acquiring an additional 118,311 shares during the last quarter. Guggenheim Capital LLC lifted its stake in John Hancock Income Securities Trust by 60.1% in the 4th quarter. Guggenheim Capital LLC now owns 131,547 shares of the financial services provider’s stock valued at $1,540,000 after buying an additional 49,377 shares in the last quarter. Baird Financial Group Inc. grew its holdings in John Hancock Income Securities Trust by 23.9% during the 2nd quarter. Baird Financial Group Inc. now owns 60,103 shares of the financial services provider’s stock valued at $678,000 after buying an additional 11,587 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of John Hancock Income Securities Trust by 3.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 211,766 shares of the financial services provider’s stock worth $2,335,000 after acquiring an additional 7,715 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of John Hancock Income Securities Trust in the first quarter valued at $27,000.

About John Hancock Income Securities Trust

John Hancock Income Securities Trust (NYSE: JHS) is a diversified, closed-end management investment company that seeks to provide shareholders with high current income while preserving capital. Trading on the New York Stock Exchange since its launch in the late 1970s, the trust offers investors access to a broad portfolio of fixed-income securities under a professional management structure.

The fund’s primary investment activities include purchasing U.S. government and agency obligations, investment-grade corporate debt, mortgage- and asset-backed securities, preferred stocks, and selected foreign debt instruments.