John Hancock Premium Dividend Fund (NYSE:PDT) Sees Large Increase in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 43,000 shares, a growth of 87.8% from the February 28th total of 22,900 shares. Based on an average daily trading volume, of 118,800 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are sold short.

John Hancock Premium Dividend Fund Price Performance

NYSE PDT traded up $0.07 on Friday, reaching $12.99. The stock had a trading volume of 111,055 shares, compared to its average volume of 111,202. John Hancock Premium Dividend Fund has a 12-month low of $10.65 and a 12-month high of $13.55. The business’s 50-day moving average price is $12.84 and its 200 day moving average price is $12.92.

John Hancock Premium Dividend Fund 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 paid a dividend of $0.0825 per share. This represents a $0.99 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC boosted its stake in shares of John Hancock Premium Dividend Fund by 112.3% during 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 period. Ameriflex Group Inc. purchased a new stake in John Hancock Premium Dividend Fund during the 4th quarter valued at approximately $77,000. BankPlus Trust Department acquired a new stake in John Hancock Premium Dividend Fund during the 4th quarter worth approximately $113,000. Landscape Capital Management L.L.C. purchased a new position in shares of John Hancock Premium Dividend Fund in the 4th quarter valued at approximately $146,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of John Hancock Premium Dividend Fund by 11.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,903 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 1,400 shares during the period. 12.98% of the stock is owned by hedge funds and other institutional investors.

John Hancock Premium Dividend Fund Company Profile

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.