John Hancock Premium Dividend Fund (NYSE:PDT) Short Interest Down 76.7% in October

John Hancock Premium Dividend Fund (NYSE:PDT) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 12,700 shares, a decrease of 76.7% from the September 30th total of 54,400 shares. Based on an average daily volume of 104,200 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of John Hancock Premium Dividend Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Williams Jones Wealth Management LLC. purchased a new stake in John Hancock Premium Dividend Fund during the 1st quarter valued at about $127,000. HB Wealth Management LLC purchased a new stake in John Hancock Premium Dividend Fund during the 1st quarter valued at about $149,000. Mercer Global Advisors Inc. ADV purchased a new stake in John Hancock Premium Dividend Fund during the 2nd quarter valued at about $164,000. J.W. Cole Advisors Inc. grew its position in John Hancock Premium Dividend Fund by 7.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,921 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Mosaic Family Wealth Partners LLC grew its position in John Hancock Premium Dividend Fund by 42.0% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 39,144 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 11,586 shares during the last quarter. 12.98% of the stock is owned by hedge funds and other institutional investors.

John Hancock Premium Dividend Fund Stock Down 0.9 %

Shares of NYSE:PDT traded down $0.12 during midday trading on Friday, reaching $13.11. The company’s stock had a trading volume of 67,235 shares, compared to its average volume of 117,805. The firm has a 50 day moving average of $13.18 and a 200-day moving average of $12.16. John Hancock Premium Dividend Fund has a 12-month low of $9.31 and a 12-month high of $13.55.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be given a $0.0825 dividend. This represents a $0.99 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date of this dividend is Friday, October 11th.

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.