John Hancock Preferred Income Fund (NYSE:HPI) Shares Pass Below 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund (NYSE:HPI) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $17.13 and traded as low as $16.69. John Hancock Preferred Income Fund shares last traded at $16.74, with a volume of 53,426 shares.

John Hancock Preferred Income Fund Stock Performance

The stock’s fifty day simple moving average is $17.13 and its 200-day simple moving average is $17.51.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date is Thursday, March 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Hedge funds have recently bought and sold shares of the company. WASHINGTON TRUST Co purchased a new position in John Hancock Preferred Income Fund during the 4th quarter worth $26,000. Tandem Financial LLC bought a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter worth $40,000. Wolverine Asset Management LLC bought a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter worth $44,000. Ameriflex Group Inc. bought a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter worth $46,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter worth $127,000.

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.