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

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 81,300 shares, a drop of 9.4% from the January 15th total of 89,700 shares. Based on an average daily volume of 48,500 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of John Hancock Preferred Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. WASHINGTON TRUST Co purchased a new stake in shares of John Hancock Preferred Income Fund in the fourth quarter valued at about $26,000. Tandem Financial LLC purchased a new stake in shares of John Hancock Preferred Income Fund in the 4th quarter valued at approximately $40,000. Wolverine Asset Management LLC acquired a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter worth approximately $44,000. US Bancorp DE purchased a new stake in shares of John Hancock Preferred Income Fund during the 3rd quarter valued at approximately $95,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter valued at approximately $127,000.

John Hancock Preferred Income Fund Price Performance

Shares of HPI stock traded down $0.02 during trading hours on Monday, reaching $17.54. The company had a trading volume of 42,469 shares, compared to its average volume of 44,052. John Hancock Preferred Income Fund has a 12-month low of $15.26 and a 12-month high of $19.43. The stock has a fifty day moving average of $16.99 and a 200-day moving average of $17.55.

John Hancock Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be issued a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 8.45%. The ex-dividend date of this dividend is Thursday, February 13th.

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.