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

John Hancock Preferred Income Fund (NYSE:HPI) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 61,000 shares, a growth of 22.2% from the September 30th total of 49,900 shares. Based on an average daily volume of 46,300 shares, the short-interest ratio is currently 1.3 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its position in John Hancock Preferred Income Fund by 9.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 274,852 shares of the company’s stock valued at $4,571,000 after acquiring an additional 24,559 shares in the last quarter. US Bancorp DE bought a new stake in John Hancock Preferred Income Fund during the third quarter valued at about $95,000. Private Advisor Group LLC lifted its position in John Hancock Preferred Income Fund by 10.5% during the first quarter. Private Advisor Group LLC now owns 21,964 shares of the company’s stock valued at $365,000 after acquiring an additional 2,086 shares during the last quarter. TSP Capital Management Group LLC boosted its stake in 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 valued at $2,120,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in John Hancock Preferred Income Fund by 1.7% in the second quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock worth $1,338,000 after purchasing an additional 1,351 shares during the last quarter.

John Hancock Preferred Income Fund Stock Up 0.5 %

NYSE:HPI traded up $0.09 during midday trading on Wednesday, hitting $18.00. The stock had a trading volume of 44,614 shares, compared to its average volume of 52,606. The stock has a 50-day moving average of $18.21 and a 200 day moving average of $17.24. John Hancock Preferred Income Fund has a one year low of $13.05 and a one year high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a $0.1235 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.48 annualized dividend and a dividend yield of 8.23%.

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.