Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Expands By 199.3%

John Hancock Preferred Income Fund II (NYSE:HPF) saw a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 44,000 shares, a growth of 199.3% from the January 31st total of 14,700 shares. Based on an average daily volume of 44,800 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors have recently modified their holdings of the company. Cornerstone Advisors LLC bought a new stake in John Hancock Preferred Income Fund II during the third quarter worth $69,000. Wolverine Asset Management LLC bought a new stake in John Hancock Preferred Income Fund II during the fourth quarter worth $203,000. MSH Capital Advisors LLC bought a new stake in John Hancock Preferred Income Fund II during the fourth quarter worth $205,000. Raymond James Financial Inc. bought a new stake in John Hancock Preferred Income Fund II during the fourth quarter worth $284,000. Finally, Vanguard Capital Wealth Advisors grew its holdings in John Hancock Preferred Income Fund II by 58.3% during the fourth quarter. Vanguard Capital Wealth Advisors now owns 19,000 shares of the company’s stock worth $314,000 after buying an additional 7,000 shares in the last quarter.

John Hancock Preferred Income Fund II Price Performance

Shares of NYSE:HPF traded up $0.10 during trading on Friday, reaching $17.12. 30,883 shares of the stock were exchanged, compared to its average volume of 43,407. John Hancock Preferred Income Fund II has a 1-year low of $15.39 and a 1-year high of $19.00. The stock has a fifty day moving average of $16.81 and a two-hundred day moving average of $17.32.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 13th were given a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date of this dividend was Thursday, February 13th.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II 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.