John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Shares of John Hancock Preferred Income Fund III (NYSE:HPS) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $16.59 and traded as low as $15.83. John Hancock Preferred Income Fund III shares last traded at $15.96, with a volume of 50,292 shares.

John Hancock Preferred Income Fund III Price Performance

The firm’s fifty day moving average is $16.59 and its two-hundred day moving average is $16.01.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 8.27%. The ex-dividend date of this dividend is Tuesday, November 12th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several institutional investors have recently bought and sold shares of HPS. Concourse Financial Group Securities Inc. acquired a new stake in John Hancock Preferred Income Fund III in the 1st quarter valued at about $25,000. US Bancorp DE acquired a new stake in John Hancock Preferred Income Fund III in the 3rd quarter valued at about $76,000. Cetera Advisors LLC purchased a new stake in John Hancock Preferred Income Fund III during the first quarter valued at about $199,000. Pine Valley Investments Ltd Liability Co lifted its stake in John Hancock Preferred Income Fund III by 10.6% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 18,841 shares of the company’s stock valued at $298,000 after buying an additional 1,800 shares in the last quarter. Finally, Fiera Capital Corp lifted its stake in John Hancock Preferred Income Fund III by 0.7% during the third quarter. Fiera Capital Corp now owns 85,001 shares of the company’s stock valued at $1,465,000 after buying an additional 627 shares in the last quarter.

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.