John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund II (NYSE:HPF) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $15.91 and traded as high as $15.98. John Hancock Preferred Income Fund II shares last traded at $15.9450, with a volume of 23,046 shares.

John Hancock Preferred Income Fund II Trading Up 0.5%

The firm has a fifty day moving average of $15.91 and a 200 day moving average of $15.94.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a $0.1235 dividend. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Monday, July 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors have recently made changes to their positions in HPF. Royal Bank of Canada lifted its stake in shares of John Hancock Preferred Income Fund II by 31.3% in the 1st quarter. Royal Bank of Canada now owns 31,237 shares of the company’s stock valued at $519,000 after purchasing an additional 7,449 shares during the period. Invesco Ltd. grew its position in John Hancock Preferred Income Fund II by 5.0% during the second quarter. Invesco Ltd. now owns 159,319 shares of the company’s stock valued at $2,519,000 after buying an additional 7,579 shares during the period. Guggenheim Capital LLC acquired a new stake in John Hancock Preferred Income Fund II during the second quarter valued at $687,000. NewEdge Advisors LLC increased its holdings in John Hancock Preferred Income Fund II by 4.0% in the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after buying an additional 770 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in John Hancock Preferred Income Fund II by 6.7% in the second quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock valued at $328,000 after buying an additional 1,299 shares in the last quarter.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.