Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Grows By 61.0%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 12,609 shares, an increase of 61.0% from the February 26th total of 7,830 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 59,483 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of John Hancock Preferred Income ETF

Several institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its stake in shares of John Hancock Preferred Income ETF by 421.7% in the 3rd quarter. Private Advisor Group LLC now owns 758,690 shares of the company’s stock valued at $17,579,000 after purchasing an additional 613,277 shares in the last quarter. FFG Retirement Advisors LLC acquired a new stake in shares of John Hancock Preferred Income ETF during the 3rd quarter worth about $3,957,000. LPL Financial LLC lifted its holdings in John Hancock Preferred Income ETF by 31.4% during the 4th quarter. LPL Financial LLC now owns 648,267 shares of the company’s stock valued at $14,804,000 after purchasing an additional 154,995 shares during the last quarter. BDFS Capital LLC bought a new position in John Hancock Preferred Income ETF during the 4th quarter valued at about $3,362,000. Finally, Burk Holdings LLC acquired a new position in John Hancock Preferred Income ETF in the third quarter valued at about $2,846,000.

John Hancock Preferred Income ETF Stock Down 0.8%

JHPI traded down $0.18 during midday trading on Friday, reaching $22.48. 28,734 shares of the company’s stock were exchanged, compared to its average volume of 51,873. The firm has a market capitalization of $143.87 million, a price-to-earnings ratio of 60.41 and a beta of 0.40. John Hancock Preferred Income ETF has a one year low of $21.57 and a one year high of $23.56. The business has a 50-day simple moving average of $23.06 and a two-hundred day simple moving average of $23.08.

John Hancock Preferred Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 25th were given a dividend of $0.0365 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 25th.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.