John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Up 322.8% in January

John Hancock Preferred Income Fund III (NYSE:HPS) saw a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 43,833 shares, an increase of 322.8% from the January 15th total of 10,367 shares. Based on an average daily trading volume, of 58,417 shares, the short-interest ratio is currently 0.8 days. Based on an average daily trading volume, of 58,417 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in John Hancock Preferred Income Fund III by 11.4% in the first quarter. Royal Bank of Canada now owns 51,471 shares of the company’s stock valued at $772,000 after buying an additional 5,264 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in John Hancock Preferred Income Fund III in the second quarter valued at $59,000. Cetera Investment Advisers lifted its position in shares of John Hancock Preferred Income Fund III by 3.1% during the 2nd quarter. Cetera Investment Advisers now owns 140,155 shares of the company’s stock valued at $1,999,000 after acquiring an additional 4,194 shares during the period. Invesco Ltd. grew its holdings in John Hancock Preferred Income Fund III by 6.2% in the second quarter. Invesco Ltd. now owns 235,960 shares of the company’s stock valued at $3,365,000 after purchasing an additional 13,710 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in John Hancock Preferred Income Fund III by 55.8% during the 2nd quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock valued at $2,500,000 after acquiring an additional 62,819 shares in the last quarter.

John Hancock Preferred Income Fund III Price Performance

Shares of HPS traded up $0.05 during trading hours on Friday, reaching $14.73. 22,747 shares of the company traded hands, compared to its average volume of 62,363. John Hancock Preferred Income Fund III has a 12-month low of $13.08 and a 12-month high of $15.68. The business has a fifty day moving average price of $14.54 and a 200-day moving average price of $14.88.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend is Thursday, February 12th.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.