John Hancock Preferred Income Fund (NYSE:HPI – Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 58,700 shares, a decrease of 17.3% from the August 15th total of 71,000 shares. Based on an average daily trading volume, of 46,300 shares, the days-to-cover ratio is currently 1.3 days.
Institutional Trading of John Hancock Preferred Income Fund
Several hedge funds have recently added to or reduced their stakes in HPI. Commonwealth Equity Services LLC lifted its position in John Hancock Preferred Income Fund by 1.3% in the second quarter. Commonwealth Equity Services LLC now owns 278,544 shares of the company’s stock valued at $4,654,000 after purchasing an additional 3,692 shares during the last quarter. TSP Capital Management Group LLC increased its stake in shares of John Hancock Preferred Income Fund by 1.1% in the second quarter. TSP Capital Management Group LLC now owns 126,865 shares of the company’s stock worth $2,120,000 after buying an additional 1,400 shares during the period. Raymond James & Associates raised its holdings in John Hancock Preferred Income Fund by 1.7% during the 2nd quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock valued at $1,338,000 after buying an additional 1,351 shares during the last quarter. Level Four Advisory Services LLC boosted its position in John Hancock Preferred Income Fund by 120.6% during the 4th quarter. Level Four Advisory Services LLC now owns 26,810 shares of the company’s stock valued at $423,000 after buying an additional 14,658 shares during the period. Finally, Private Advisor Group LLC grew its holdings in John Hancock Preferred Income Fund by 10.5% in the 1st quarter. Private Advisor Group LLC now owns 21,964 shares of the company’s stock worth $365,000 after acquiring an additional 2,086 shares during the last quarter.
John Hancock Preferred Income Fund Trading Up 1.3 %
Shares of HPI stock traded up $0.24 during trading hours on Wednesday, hitting $18.36. 63,942 shares of the company’s stock were exchanged, compared to its average volume of 53,639. John Hancock Preferred Income Fund has a 12-month low of $12.85 and a 12-month high of $18.36. The business’s 50 day simple moving average is $17.30 and its 200-day simple moving average is $16.78.
John Hancock Preferred Income Fund Increases Dividend
About John Hancock Preferred Income Fund
John Hancock Preferred Income Fund is a closed ended balanced 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 public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.
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