John Hancock Preferred Income ETF (NYSEARCA:JHPI) Short Interest Update

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 30,112 shares, an increase of 240.1% from the April 15th total of 8,853 shares. Based on an average daily volume of 45,491 shares, the short-interest ratio is currently 0.7 days. Currently, 0.4% of the shares of the stock are sold short.

John Hancock Preferred Income ETF Stock Performance

Shares of JHPI remained flat at $22.98 during mid-day trading on Thursday. 190,242 shares of the company traded hands, compared to its average volume of 51,390. John Hancock Preferred Income ETF has a 52-week low of $22.12 and a 52-week high of $23.56. The firm’s fifty day simple moving average is $22.92 and its 200 day simple moving average is $23.00. The stock has a market cap of $179.24 million, a PE ratio of 60.41 and a beta of 0.38.

John Hancock Preferred Income ETF Cuts Dividend

The business also recently declared 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of JHPI. Jane Street Group LLC raised its position in shares of John Hancock Preferred Income ETF by 261.4% during the 1st quarter. Jane Street Group LLC now owns 35,756 shares of the company’s stock worth $801,000 after purchasing an additional 25,861 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of John Hancock Preferred Income ETF during the 2nd quarter worth about $452,000. Bank of America Corp DE raised its position in shares of John Hancock Preferred Income ETF by 10.3% during the 2nd quarter. Bank of America Corp DE now owns 205,497 shares of the company’s stock worth $4,633,000 after purchasing an additional 19,204 shares during the last quarter. Spire Wealth Management acquired a new position in shares of John Hancock Preferred Income ETF during the 3rd quarter worth about $50,000. Finally, Beacon Financial Advisory LLC raised its position in shares of John Hancock Preferred Income ETF by 1.2% during the 3rd quarter. Beacon Financial Advisory LLC now owns 37,092 shares of the company’s stock worth $859,000 after purchasing an additional 446 shares during the last quarter.

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.