John Hancock Premium Dividend Fund (NYSE:PDT) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of John Hancock Premium Dividend Fund (NYSE:PDT) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.01 and traded as low as $12.95. John Hancock Premium Dividend Fund shares last traded at $13.0250, with a volume of 138,346 shares traded.

John Hancock Premium Dividend Fund Stock Performance

The company has a 50-day moving average of $12.89 and a 200-day moving average of $13.02.

John Hancock Premium Dividend Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be paid a dividend of $0.0883 per share. The ex-dividend date is Monday, July 13th. This is a positive change from John Hancock Premium Dividend Fund’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of John Hancock Premium Dividend Fund by 2.4% in the 2nd quarter. Invesco Ltd. now owns 687,451 shares of the real estate investment trust’s stock valued at $9,054,000 after purchasing an additional 16,425 shares during the last quarter. Raymond James Financial Inc. grew its position in John Hancock Premium Dividend Fund by 9.3% during the 2nd quarter. Raymond James Financial Inc. now owns 28,567 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 2,425 shares during the last quarter. Nomura Holdings Inc. acquired a new position in John Hancock Premium Dividend Fund during the 2nd quarter valued at approximately $132,000. PNC Financial Services Group Inc. raised its holdings in shares of John Hancock Premium Dividend Fund by 36.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,328 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 889 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of John Hancock Premium Dividend Fund in the third quarter worth $1,121,000. Institutional investors and hedge funds own 12.98% of the company’s stock.

About John Hancock Premium Dividend Fund

The John Hancock Premium Dividend Fund (NYSE:PDT) is a publicly traded, closed-end management investment company designed to deliver high current income and potential capital growth. The fund’s core strategy centers on dividend-paying and income-producing securities, combining equity and fixed-income instruments to achieve a balanced risk-return profile.

Managed by John Hancock Investment Management (US) LLC, a subsidiary of Manulife Financial Corporation, the fund primarily allocates assets to dividend-paying common stocks and preferred stocks of U.S.