Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Decreases By 8.0%

John Hancock Preferred Income Fund III (NYSE:HPSGet Free Report) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 233,200 shares, a decline of 8.0% from the May 15th total of 253,600 shares. Based on an average daily volume of 58,400 shares, the days-to-cover ratio is currently 4.0 days.

John Hancock Preferred Income Fund III Stock Up 0.1 %

NYSE HPS traded up $0.02 during trading on Wednesday, reaching $15.64. 45,134 shares of the company traded hands, compared to its average volume of 56,696. The stock’s 50 day moving average price is $15.32 and its two-hundred day moving average price is $14.87. John Hancock Preferred Income Fund III has a 1-year low of $11.79 and a 1-year high of $15.90.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.44%. The ex-dividend date of this dividend is Thursday, June 13th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Ramirez Asset Management Inc. bought a new position in John Hancock Preferred Income Fund III in the 3rd quarter worth approximately $47,000. Pine Valley Investments Ltd Liability Co raised its position in John Hancock Preferred Income Fund III by 46.0% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 17,141 shares of the company’s stock worth $242,000 after purchasing an additional 5,400 shares during the last quarter. Activest Wealth Management bought a new position in John Hancock Preferred Income Fund III in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC raised its position in John Hancock Preferred Income Fund III by 255.1% in the 4th quarter. Global Retirement Partners LLC now owns 2,713 shares of the company’s stock worth $39,000 after purchasing an additional 1,949 shares during the last quarter. Finally, OneAscent Financial Services LLC bought a new position in John Hancock Preferred Income Fund III in the 4th quarter worth approximately $180,000.

John Hancock Preferred Income Fund III Company Profile

(Get Free Report)

John Hancock Preferred Income Fund III is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.

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