John Hancock Preferred Income Fund II (NYSE:HPF) Shares Cross Above 50 Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $15.77 and traded as high as $15.85. John Hancock Preferred Income Fund II shares last traded at $15.70, with a volume of 38,700 shares.

John Hancock Preferred Income Fund II Stock Up 1.6%

The stock’s fifty day moving average is $15.77 and its two-hundred day moving average is $16.06.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 11th will be issued a $0.1235 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, May 11th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

A number of hedge funds and other institutional investors have recently made changes to their positions in HPF. Western Wealth Management LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the 1st quarter worth about $66,000. Jane Street Group LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the 4th quarter worth about $180,000. Readystate Asset Management LP purchased a new position in shares of John Hancock Preferred Income Fund II in the 3rd quarter worth about $195,000. NewEdge Advisors LLC boosted its holdings in shares of John Hancock Preferred Income Fund II by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after buying an additional 770 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in John Hancock Preferred Income Fund II in the 4th quarter valued at about $322,000.

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.