John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Update

John Hancock Preferred Income Fund (NYSE:HPI) saw a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 15,401 shares, a decline of 48.6% from the January 15th total of 29,962 shares. Based on an average trading volume of 49,650 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 49,650 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of John Hancock Preferred Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in HPI. Fiera Capital Corp boosted its holdings in John Hancock Preferred Income Fund by 14.7% in the third quarter. Fiera Capital Corp now owns 87,336 shares of the company’s stock worth $1,515,000 after acquiring an additional 11,208 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of John Hancock Preferred Income Fund by 23.5% during the third quarter. J.W. Cole Advisors Inc. now owns 119,660 shares of the company’s stock valued at $2,076,000 after acquiring an additional 22,794 shares in the last quarter. KPP Advisory Services LLC raised its position in shares of John Hancock Preferred Income Fund by 74.3% in the 3rd quarter. KPP Advisory Services LLC now owns 23,460 shares of the company’s stock valued at $407,000 after purchasing an additional 10,000 shares during the last quarter. SAM Advisors LLC boosted its stake in John Hancock Preferred Income Fund by 13.3% in the 3rd quarter. SAM Advisors LLC now owns 33,017 shares of the company’s stock worth $573,000 after purchasing an additional 3,865 shares in the last quarter. Finally, TSP Capital Management Group LLC grew its position in John Hancock Preferred Income Fund by 1.7% during the 3rd quarter. TSP Capital Management Group LLC now owns 131,360 shares of the company’s stock worth $2,279,000 after purchasing an additional 2,250 shares during the last quarter.

John Hancock Preferred Income Fund Stock Down 0.6%

Shares of NYSE:HPI traded down $0.09 on Thursday, hitting $16.22. 36,623 shares of the company’s stock were exchanged, compared to its average volume of 56,337. John Hancock Preferred Income Fund has a 12 month low of $14.61 and a 12 month high of $17.72. The business’s 50 day simple moving average is $16.36 and its two-hundred day simple moving average is $16.63.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be issued a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.1%. The ex-dividend date is Thursday, February 12th.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.