John Hancock Premium Dividend Fund (NYSE:PDT) Shares Cross Above 200 Day Moving Average – Here’s Why

John Hancock Premium Dividend Fund (NYSE:PDT)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.52 and traded as high as $12.75. John Hancock Premium Dividend Fund shares last traded at $12.59, with a volume of 202,606 shares trading hands.

John Hancock Premium Dividend Fund Price Performance

The firm has a fifty day moving average of $13.01 and a 200-day moving average of $12.53.

John Hancock Premium Dividend Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be paid a $0.0825 dividend. This represents a $0.99 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date is Thursday, December 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new position in shares of John Hancock Premium Dividend Fund during the second quarter valued at $164,000. J.W. Cole Advisors Inc. increased its stake in John Hancock Premium Dividend Fund by 7.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,921 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,221 shares during the period. HighTower Advisors LLC acquired a new position in John Hancock Premium Dividend Fund during the 3rd quarter valued at about $212,000. EP Wealth Advisors LLC bought a new stake in shares of John Hancock Premium Dividend Fund during the 3rd quarter worth about $229,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of John Hancock Premium Dividend Fund in the 3rd quarter worth approximately $291,000. 12.98% of the stock is owned by institutional investors and hedge funds.

About John Hancock Premium Dividend Fund

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.