Short Interest in John Hancock Preferred Income Fund (NYSE:HPI) Declines By 33.2%

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 21,300 shares, a decrease of 33.2% from the November 15th total of 31,900 shares. Based on an average trading volume of 44,600 shares, the short-interest ratio is currently 0.5 days.

John Hancock Preferred Income Fund Trading Down 0.6 %

HPI opened at $17.02 on Friday. The firm has a fifty day moving average price of $17.94 and a 200 day moving average price of $17.51. John Hancock Preferred Income Fund has a 1 year low of $14.74 and a 1 year high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 12th will be given a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.71%. The ex-dividend date of this dividend is Thursday, December 12th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Large investors have recently bought and sold shares of the business. SAM Advisors LLC raised its stake in shares of John Hancock Preferred Income Fund by 3.4% during the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock worth $510,000 after buying an additional 886 shares during the period. Fiera Capital Corp grew its stake in shares of John Hancock Preferred Income Fund by 1.5% in the 3rd quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after buying an additional 1,170 shares during the period. US Bancorp DE acquired a new stake in shares of John Hancock Preferred Income Fund during the 3rd quarter worth approximately $95,000. Wedbush Securities Inc. lifted its holdings in John Hancock Preferred Income Fund by 5.3% in the second quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock valued at $199,000 after acquiring an additional 600 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in John Hancock Preferred Income Fund by 1.3% in the second quarter. Commonwealth Equity Services LLC now owns 278,544 shares of the company’s stock worth $4,654,000 after acquiring an additional 3,692 shares during the period.

About John Hancock Preferred Income Fund

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.