John Hancock Preferred Income Fund III (NYSE:HPS) Shares Sold by Mid Atlantic Financial Management Inc. ADV

Mid Atlantic Financial Management Inc. ADV trimmed its holdings in John Hancock Preferred Income Fund III (NYSE:HPS) by 33.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,426 shares of the company’s stock after selling 10,099 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in John Hancock Preferred Income Fund III were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HPS. UBS Group AG grew its stake in John Hancock Preferred Income Fund III by 19.1% in the 1st quarter. UBS Group AG now owns 498,512 shares of the company’s stock valued at $9,073,000 after acquiring an additional 79,902 shares during the last quarter. Cohen & Steers Inc. grew its stake in John Hancock Preferred Income Fund III by 33.3% in the 1st quarter. Cohen & Steers Inc. now owns 264,120 shares of the company’s stock valued at $4,807,000 after acquiring an additional 65,917 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in John Hancock Preferred Income Fund III in the 1st quarter valued at about $775,000. Fiera Capital Corp acquired a new stake in John Hancock Preferred Income Fund III in the 1st quarter valued at about $691,000. Finally, Commonwealth Equity Services LLC grew its stake in John Hancock Preferred Income Fund III by 30.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 75,921 shares of the company’s stock valued at $1,381,000 after acquiring an additional 17,840 shares during the last quarter.

Shares of NYSE HPS opened at $19.12 on Friday. John Hancock Preferred Income Fund III has a 52 week low of $15.52 and a 52 week high of $19.56. The company’s 50-day moving average price is $19.26 and its 200 day moving average price is $18.74.

The company also recently declared a monthly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Monday, September 13th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, September 10th. This represents a $1.32 annualized dividend and a dividend yield of 6.90%.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III operates as a closed-end management investment company. It seeks to provide a high level of current income consistent with preservation of capital by investing in securities that, in the opinion of the Advisor, may be undervalued relative to similar securities in the marketplace.

Further Reading: What is the Nikkei 225 index?    

Want to see what other hedge funds are holding HPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for John Hancock Preferred Income Fund III (NYSE:HPS).

Institutional Ownership by Quarter for John Hancock Preferred Income Fund III (NYSE:HPS)

Receive News & Ratings for John Hancock Preferred Income Fund III Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Hancock Preferred Income Fund III and related companies with MarketBeat.com's FREE daily email newsletter.