John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Update

John Hancock Preferred Income Fund II (NYSE:HPF) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 31,422 shares, a growth of 290.3% from the February 26th total of 8,051 shares. Based on an average daily volume of 47,356 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 47,356 shares, the short-interest ratio is currently 0.7 days.

John Hancock Preferred Income Fund II Stock Performance

NYSE:HPF opened at $15.29 on Wednesday. The stock’s fifty day moving average is $16.03 and its two-hundred day moving average is $16.32. John Hancock Preferred Income Fund II has a 52 week low of $14.56 and a 52 week high of $17.13.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be issued a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Thursday, March 12th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG grew its position in John Hancock Preferred Income Fund II by 6.4% in the 4th quarter. UBS Group AG now owns 361,631 shares of the company’s stock valued at $5,811,000 after acquiring an additional 21,636 shares in the last quarter. Axim Planning & Wealth lifted its position in shares of John Hancock Preferred Income Fund II by 3.3% during the third quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock worth $5,608,000 after purchasing an additional 10,752 shares in the last quarter. Guggenheim Capital LLC lifted its position in shares of John Hancock Preferred Income Fund II by 73.1% during the fourth quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after purchasing an additional 102,627 shares in the last quarter. Invesco Ltd. boosted its stake in shares of John Hancock Preferred Income Fund II by 14.8% in the third quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock valued at $3,083,000 after purchasing an additional 23,622 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 1.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after purchasing an additional 1,463 shares during the period.

About John Hancock Preferred Income Fund II

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.