Sowell Financial Services LLC Invests $698,000 in John Hancock Preferred Income Fund III (NYSE:HPS)

Sowell Financial Services LLC acquired a new position in shares of John Hancock Preferred Income Fund III (NYSE:HPS) in the 4th quarter, Holdings Channel reports. The fund acquired 46,435 shares of the company’s stock, valued at approximately $698,000.

Several other institutional investors have also modified their holdings of HPS. Pine Valley Investments Ltd Liability Co lifted its position in shares of John Hancock Preferred Income Fund III by 153.9% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 49,357 shares of the company’s stock worth $742,000 after buying an additional 29,916 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter worth approximately $399,000. Janney Montgomery Scott LLC purchased a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter worth approximately $358,000. Tallon Kerry Patrick purchased a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter worth approximately $360,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter worth approximately $311,000.

John Hancock Preferred Income Fund III Stock Performance

Shares of NYSE:HPS opened at $14.87 on Wednesday. John Hancock Preferred Income Fund III has a twelve month low of $14.09 and a twelve month high of $17.25. The firm has a 50 day simple moving average of $15.08 and a 200-day simple moving average of $15.74.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.32 annualized dividend and a yield of 8.88%.

About John Hancock Preferred Income Fund III

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.