John Hancock Preferred Income Fund (NYSE:HPI) Stock Short Interest Report for September

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 116,055 shares, a decline of 45.5% from the September 15th total of 213,037 shares. Based on an average daily trading volume, of 166,052 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Several hedge funds have recently made changes to their positions in HPI. Cetera Investment Advisers lifted its position in John Hancock Preferred Income Fund by 2.7% during the first quarter. Cetera Investment Advisers now owns 46,039 shares of the company’s stock worth $722,000 after buying an additional 1,227 shares during the period. Kestra Advisory Services LLC grew its holdings in John Hancock Preferred Income Fund by 2.3% in the 1st quarter. Kestra Advisory Services LLC now owns 87,939 shares of the company’s stock valued at $1,380,000 after buying an additional 2,011 shares during the period. Royal Bank of Canada grew its holdings in John Hancock Preferred Income Fund by 1.1% in the 1st quarter. Royal Bank of Canada now owns 254,181 shares of the company’s stock valued at $3,988,000 after buying an additional 2,823 shares during the period. TSP Capital Management Group LLC grew its holdings in John Hancock Preferred Income Fund by 2.5% in the 3rd quarter. TSP Capital Management Group LLC now owns 207,710 shares of the company’s stock valued at $2,908,000 after buying an additional 5,075 shares during the period. Finally, Compass Financial Management LLC purchased a new position in shares of John Hancock Preferred Income Fund during the 2nd quarter worth about $106,000.

John Hancock Preferred Income Fund Stock Performance

Shares of HPI traded up $0.09 on Thursday, hitting $13.43. 133,067 shares of the stock traded hands, compared to its average volume of 64,155. John Hancock Preferred Income Fund has a 1 year low of $13.30 and a 1 year high of $17.42. The stock’s 50 day moving average is $15.08 and its two-hundred day moving average is $15.72.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, October 13th will be paid a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend is Tuesday, October 13th.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund (NYSE: HPI) is a diversified closed-end fund that seeks to provide investors with a high level of current income. The fund invests primarily in preferred securities and other income-producing securities, including preferred stocks, bonds and related fixed-income instruments.

The fund may invest across a range of industries and geographic markets, with its portfolio generally focused on securities issued by companies in the United States and other developed markets.