John Hancock Preferred Income Fund Plans Monthly Dividend of $0.12 (NYSE:HPI)

John Hancock Preferred Income Fund (NYSE:HPI) announced a monthly dividend on Wednesday, July 1st. Stockholders of record on Monday, July 13th will be paid a dividend of 0.1235 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, July 13th.

John Hancock Preferred Income Fund Price Performance

Shares of NYSE HPI opened at $16.29 on Thursday. John Hancock Preferred Income Fund has a 12 month low of $15.26 and a 12 month high of $17.61. The business has a 50-day moving average of $16.11 and a 200-day moving average of $16.12.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in John Hancock Preferred Income Fund by 3.2% in the third quarter. Envestnet Asset Management Inc. now owns 32,339 shares of the company’s stock worth $561,000 after acquiring an additional 998 shares in the last quarter. NewEdge Advisors LLC lifted its stake in John Hancock Preferred Income Fund by 3.7% during the third quarter. NewEdge Advisors LLC now owns 20,851 shares of the company’s stock worth $362,000 after purchasing an additional 742 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of John Hancock Preferred Income Fund by 4.4% in the 3rd quarter. Private Advisor Group LLC now owns 15,440 shares of the company’s stock worth $268,000 after purchasing an additional 651 shares in the last quarter. Arlington Capital Management Inc. bought a new position in shares of John Hancock Preferred Income Fund during the 3rd quarter valued at about $219,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of John Hancock Preferred Income Fund during the 2nd quarter valued at about $204,000.

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.