John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Stock Crosses Above 200 Day Moving Average – Here’s Why

John Hancock Hedged Equity & Income Fund (NYSE:HEQ)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.40 and traded as high as $12.00. John Hancock Hedged Equity & Income Fund shares last traded at $11.72, with a volume of 22,619 shares traded.

John Hancock Hedged Equity & Income Fund Price Performance

The firm’s 50 day simple moving average is $11.54 and its two-hundred day simple moving average is $11.40.

John Hancock Hedged Equity & Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were issued a $0.25 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.00 annualized dividend and a dividend yield of 8.5%.

Institutional Investors Weigh In On John Hancock Hedged Equity & Income Fund

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in John Hancock Hedged Equity & Income Fund by 24.7% in the 1st quarter. Royal Bank of Canada now owns 43,140 shares of the investment management company’s stock worth $449,000 after purchasing an additional 8,558 shares during the period. Invesco Ltd. lifted its position in John Hancock Hedged Equity & Income Fund by 42.0% in the second quarter. Invesco Ltd. now owns 82,618 shares of the investment management company’s stock valued at $874,000 after purchasing an additional 24,431 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of John Hancock Hedged Equity & Income Fund by 11.7% during the second quarter. Bank of America Corp DE now owns 288,281 shares of the investment management company’s stock valued at $3,050,000 after purchasing an additional 30,102 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of John Hancock Hedged Equity & Income Fund during the second quarter valued at approximately $168,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of John Hancock Hedged Equity & Income Fund by 14.4% in the third quarter. Ameriprise Financial Inc. now owns 65,693 shares of the investment management company’s stock worth $700,000 after purchasing an additional 8,287 shares during the last quarter.

John Hancock Hedged Equity & Income Fund Company Profile

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.