John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Update

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 52,131 shares, a decrease of 65.0% from the August 31st total of 148,734 shares. Based on an average daily trading volume, of 72,620 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HPF. J.W. Cole Advisors Inc. lifted its holdings in shares of John Hancock Preferred Income Fund II by 1.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock worth $2,313,000 after buying an additional 1,463 shares in the last quarter. Kestra Advisory Services LLC grew its stake in John Hancock Preferred Income Fund II by 4.0% during the first quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock valued at $1,084,000 after acquiring an additional 2,700 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in John Hancock Preferred Income Fund II during the second quarter valued at $384,000. Arlington Capital Management Inc. bought a new stake in John Hancock Preferred Income Fund II in the 2nd quarter valued at $255,000. Finally, Western Wealth Management LLC bought a new stake in John Hancock Preferred Income Fund II in the 1st quarter valued at $66,000.

John Hancock Preferred Income Fund II Price Performance

Shares of John Hancock Preferred Income Fund II stock traded up $0.09 during trading hours on Friday, hitting $13.80. The company’s stock had a trading volume of 71,941 shares, compared to its average volume of 40,498. The business has a 50 day moving average price of $15.38 and a two-hundred day moving average price of $15.67. John Hancock Preferred Income Fund II has a 12-month low of $13.44 and a 12-month high of $17.13.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a $0.1235 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $1.48 dividend on an annualized basis and a yield of 10.7%.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end fund managed by John Hancock Investment Management. The fund seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in preferred securities issued by corporations and financial institutions. Its portfolio may also include other income-producing investments, such as corporate debt securities and securities issued by government-related entities.