John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Up 11.2% in September

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 65,300 shares, a growth of 11.2% from the August 31st total of 58,700 shares. Based on an average daily volume of 46,700 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Several large investors have recently modified their holdings of the stock. CWM LLC purchased a new position in John Hancock Preferred Income Fund in the first quarter worth $58,000. Wedbush Securities Inc. raised its position in John Hancock Preferred Income Fund by 5.3% in the second quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock worth $199,000 after acquiring an additional 600 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in John Hancock Preferred Income Fund by 8.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 18,451 shares of the company’s stock worth $293,000 after acquiring an additional 1,391 shares in the last quarter. Private Advisor Group LLC raised its position in John Hancock Preferred Income Fund by 10.5% in the first 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 in the last quarter. Finally, Raymond James & Associates raised its position 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 acquiring an additional 1,351 shares in the last quarter.

John Hancock Preferred Income Fund Price Performance

Shares of John Hancock Preferred Income Fund stock traded up $0.11 during trading hours on Tuesday, hitting $19.06. 49,542 shares of the company were exchanged, compared to its average volume of 53,507. John Hancock Preferred Income Fund has a 1 year low of $12.85 and a 1 year high of $19.10. The business has a 50-day moving average of $17.55 and a 200-day moving average of $16.91.

John Hancock Preferred Income Fund Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 7.78%. The ex-dividend date was Friday, September 13th. This is a boost from John Hancock Preferred Income Fund’s previous monthly dividend of $0.12.

John Hancock Preferred Income Fund Company Profile

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.