John Hancock Preferred Income Fund III (NYSE:HPS) Sees Large Drop in Short Interest

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large drop in short interest in December. As of December 31st, there was short interest totaling 23,092 shares, a drop of 60.4% from the December 15th total of 58,336 shares. Based on an average daily volume of 83,383 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 83,383 shares, the short-interest ratio is currently 0.3 days.

John Hancock Preferred Income Fund III Trading Up 0.1%

John Hancock Preferred Income Fund III stock traded up $0.02 during mid-day trading on Thursday, reaching $14.57. 53,144 shares of the company traded hands, compared to its average volume of 73,214. The firm’s fifty day moving average is $14.69 and its two-hundred day moving average is $14.83. John Hancock Preferred Income Fund III has a fifty-two week low of $13.08 and a fifty-two week high of $15.68.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 12th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a c) dividend on an annualized basis and a yield of 9.1%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in John Hancock Preferred Income Fund III by 0.6% in the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after buying an additional 898 shares during the last quarter. Focus Financial Network Inc. lifted its stake in John Hancock Preferred Income Fund III by 8.5% during the 4th quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock valued at $183,000 after acquiring an additional 1,000 shares during the period. Post Resch Tallon Group Inc. boosted its holdings in shares of John Hancock Preferred Income Fund III by 6.4% in the 3rd quarter. Post Resch Tallon Group Inc. now owns 25,407 shares of the company’s stock valued at $392,000 after acquiring an additional 1,533 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of John Hancock Preferred Income Fund III in the second quarter worth $52,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of John Hancock Preferred Income Fund III by 18.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 26,580 shares of the company’s stock worth $415,000 after purchasing an additional 4,050 shares during the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.