John Hancock Preferred Income ETF (NYSEARCA:JHPI) Stock Short Interest Declines 89.8%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the recipient of a large decrease in short interest during the month of October. As of October 30th, there was short interest totaling 8,926 shares, a decrease of 89.8% from the October 15th total of 87,400 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 53,926 shares, the days-to-cover ratio is currently 0.2 days.

John Hancock Preferred Income ETF Stock Performance

NYSEARCA:JHPI traded down $0.04 during mid-day trading on Wednesday, hitting $21.69. 20,238 shares of the company’s stock traded hands, compared to its average volume of 50,809. The company has a market capitalization of $228.83 million, a P/E ratio of 60.41 and a beta of 0.37. The company has a fifty day moving average of $21.91 and a 200 day moving average of $22.62. John Hancock Preferred Income ETF has a twelve month low of $21.57 and a twelve month high of $23.36.

John Hancock Preferred Income ETF Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, October 28th were paid a dividend of $0.1408 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Wednesday, October 28th. This is an increase from John Hancock Preferred Income ETF’s previous monthly dividend of $0.1025.

Institutional Trading of John Hancock Preferred Income ETF

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in John Hancock Preferred Income ETF by 13.2% during the first quarter. Bank of America Corp DE now owns 289,784 shares of the company’s stock valued at $6,543,000 after acquiring an additional 33,819 shares in the last quarter. FFG Retirement Advisors LLC grew its stake in shares of John Hancock Preferred Income ETF by 37.6% during the 2nd quarter. FFG Retirement Advisors LLC now owns 233,827 shares of the company’s stock worth $5,308,000 after purchasing an additional 63,864 shares during the period. Robbins Farley grew its stake in shares of John Hancock Preferred Income ETF by 8.3% during the 2nd quarter. Robbins Farley now owns 172,059 shares of the company’s stock worth $3,906,000 after purchasing an additional 13,177 shares during the period. Beacon Financial Advisory LLC increased its holdings in shares of John Hancock Preferred Income ETF by 1.5% during the 2nd quarter. Beacon Financial Advisory LLC now owns 38,712 shares of the company’s stock valued at $879,000 after purchasing an additional 556 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of John Hancock Preferred Income ETF by 60.9% during the 1st quarter. Cetera Investment Advisers now owns 37,253 shares of the company’s stock valued at $841,000 after purchasing an additional 14,103 shares in the last quarter.

John Hancock Preferred Income ETF Company Profile

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.