Short Interest in John Hancock Premium Dividend Fund (NYSE:PDT) Drops By 21.8%

John Hancock Premium Dividend Fund (NYSE:PDT) saw a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 22,900 shares, a decline of 21.8% from the February 13th total of 29,300 shares. Based on an average daily trading volume, of 124,200 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

John Hancock Premium Dividend Fund Stock Performance

Shares of PDT traded up $0.16 during mid-day trading on Monday, reaching $12.85. 91,341 shares of the company’s stock traded hands, compared to its average volume of 113,185. The business’s 50-day moving average price is $12.79 and its 200-day moving average price is $12.93. John Hancock Premium Dividend Fund has a 12 month low of $10.65 and a 12 month high of $13.55.

John Hancock Premium Dividend Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be paid a dividend of $0.0825 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 7.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Ausdal Financial Partners Inc. increased its stake in shares of John Hancock Premium Dividend Fund by 1.7% during the fourth quarter. Ausdal Financial Partners Inc. now owns 57,932 shares of the real estate investment trust’s stock valued at $738,000 after acquiring an additional 983 shares during the period. Sound Income Strategies LLC grew its position in John Hancock Premium Dividend Fund by 112.3% in the fourth quarter. Sound Income Strategies LLC now owns 1,923 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,017 shares during the last quarter. Pathway Financial Advisers LLC grew its position in John Hancock Premium Dividend Fund by 0.6% in the fourth quarter. Pathway Financial Advisers LLC now owns 222,209 shares of the real estate investment trust’s stock worth $2,831,000 after buying an additional 1,428 shares during the last quarter. Arlington Capital Management Inc. grew its position in John Hancock Premium Dividend Fund by 15.2% in the fourth quarter. Arlington Capital Management Inc. now owns 14,426 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 1,906 shares during the last quarter. Finally, Bank of America Corp DE grew its position in John Hancock Premium Dividend Fund by 7.3% in the fourth quarter. Bank of America Corp DE now owns 42,512 shares of the real estate investment trust’s stock worth $542,000 after buying an additional 2,903 shares during the last quarter. Institutional investors and hedge funds own 12.98% of the company’s stock.

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.