John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Sees Significant Growth in Short Interest

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 10,574 shares, an increase of 258.3% from the August 15th total of 2,951 shares. Based on an average daily trading volume, of 23,765 shares, the short-interest ratio is presently 0.4 days.

John Hancock Hedged Equity & Income Fund Price Performance

Shares of NYSE:HEQ traded up $0.06 during midday trading on Monday, reaching $11.37. 2,579 shares of the company were exchanged, compared to its average volume of 38,845. The business’s fifty day moving average is $11.60 and its two-hundred day moving average is $11.42. John Hancock Hedged Equity & Income Fund has a one year low of $10.46 and a one year high of $12.00.

John Hancock Hedged Equity & Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On John Hancock Hedged Equity & Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new position in shares of John Hancock Hedged Equity & Income Fund during the 1st quarter valued at approximately $47,000. PNC Financial Services Group Inc. bought a new stake in John Hancock Hedged Equity & Income Fund in the first quarter worth $109,000. Advisory Solutions Group LLC purchased a new stake in John Hancock Hedged Equity & Income Fund during the second quarter valued at $119,000. XTX Topco Ltd purchased a new stake in John Hancock Hedged Equity & Income Fund during the fourth quarter valued at $144,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in John Hancock Hedged Equity & Income Fund during the second quarter valued at $168,000.

About John Hancock Hedged Equity & Income Fund

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.