Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Expands By 485.7%

John Hancock Preferred Income Fund III (NYSE:HPS) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 61,500 shares, a growth of 485.7% from the January 31st total of 10,500 shares. Based on an average daily volume of 67,500 shares, the days-to-cover ratio is currently 0.9 days.

John Hancock Preferred Income Fund III Trading Up 0.8 %

Shares of John Hancock Preferred Income Fund III stock traded up $0.12 during trading on Friday, reaching $15.35. The company’s stock had a trading volume of 67,734 shares, compared to its average volume of 66,795. The business’s 50-day moving average price is $15.05 and its 200-day moving average price is $15.79. John Hancock Preferred Income Fund III has a 52 week low of $14.09 and a 52 week high of $17.25.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, February 13th. This represents a $1.32 annualized dividend and a yield of 8.60%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of John Hancock Preferred Income Fund III during the 3rd quarter worth approximately $34,000. BankPlus Trust Department bought a new stake in John Hancock Preferred Income Fund III during the fourth quarter worth $38,000. Fifth Third Bancorp bought a new stake in John Hancock Preferred Income Fund III during the fourth quarter worth $41,000. US Bancorp DE acquired a new stake in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at $76,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at $176,000.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.