John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.14 and traded as low as $13.16. John Hancock Preferred Income Fund III shares last traded at $13.2310, with a volume of 168,696 shares changing hands.

John Hancock Preferred Income Fund III Trading Down 1.1%

The firm’s fifty day moving average price is $14.11 and its two-hundred day moving average price is $14.36.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 10.1%. The ex-dividend date of this dividend is Friday, September 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HPS. UBS Group AG lifted its holdings in shares of John Hancock Preferred Income Fund III by 10.8% in the 3rd quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock worth $17,626,000 after purchasing an additional 111,560 shares in the last quarter. Invesco Ltd. grew its position in John Hancock Preferred Income Fund III by 13.7% in the 3rd quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock valued at $4,142,000 after purchasing an additional 32,293 shares during the period. Western Wealth Management LLC bought a new stake in John Hancock Preferred Income Fund III during the 1st quarter valued at $459,000. Readystate Asset Management LP bought a new stake in John Hancock Preferred Income Fund III during the 4th quarter valued at $419,000. Finally, Balyasny Asset Management L.P. acquired a new position in John Hancock Preferred Income Fund III during the second quarter worth $395,000.

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.