Short Interest in John Hancock Premium Dividend Fund (NYSE:PDT) Grows By 124.6%

John Hancock Premium Dividend Fund (NYSE:PDT – Get Rating) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 39,300 shares, an increase of 124.6% from the April 30th total of 17,500 shares. Based on an average trading volume of 67,800 shares, the days-to-cover ratio is presently 0.6 days.

Shares of John Hancock Premium Dividend Fund stock opened at $15.70 on Friday. The company’s 50-day moving average price is $15.52 and its two-hundred day moving average price is $16.16. John Hancock Premium Dividend Fund has a 52 week low of $14.46 and a 52 week high of $17.69.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Thursday, May 12th will be given a $0.0975 dividend. This represents a $1.17 annualized dividend and a yield of 7.45%. The ex-dividend date is Wednesday, May 11th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Private Wealth Services LLC increased its stake in John Hancock Premium Dividend Fund by 5.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,519 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 886 shares in the last quarter. Royal Bank of Canada increased its stake in John Hancock Premium Dividend Fund by 18.8% in the 1st quarter. Royal Bank of Canada now owns 74,783 shares of the real estate investment trust’s stock worth $1,227,000 after purchasing an additional 11,846 shares in the last quarter. Invesco Ltd. increased its stake in John Hancock Premium Dividend Fund by 1.2% in the 1st quarter. Invesco Ltd. now owns 332,495 shares of the real estate investment trust’s stock worth $5,456,000 after purchasing an additional 3,901 shares in the last quarter. Private Portfolio Partners LLC purchased a new position in John Hancock Premium Dividend Fund during the 1st quarter valued at about $185,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in John Hancock Premium Dividend Fund by 15.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 51,058 shares of the real estate investment trust’s stock valued at $838,000 after acquiring an additional 6,971 shares in the last quarter. 5.60% of the stock is currently owned by hedge funds and other institutional investors.

John Hancock Premium Dividend Fund Company Profile (Get Rating)

John Hancock Premium Dividend Fund is a closed ended equity 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 markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.

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