John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Crosses Above 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.52 and traded as high as $14.55. John Hancock Preferred Income Fund III shares last traded at $14.5310, with a volume of 51,908 shares trading hands.

John Hancock Preferred Income Fund III Price Performance

The stock has a 50 day moving average price of $14.51 and a two-hundred day moving average price of $14.51.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Monday, July 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several hedge funds have recently added to or reduced their stakes in HPS. UBS Group AG grew its position in shares of John Hancock Preferred Income Fund III by 2.8% during the 4th quarter. UBS Group AG now owns 1,173,288 shares of the company’s stock worth $16,907,000 after buying an additional 31,695 shares during the period. LPL Financial LLC raised its position in shares of John Hancock Preferred Income Fund III by 0.7% in the 4th quarter. LPL Financial LLC now owns 296,324 shares of the company’s stock valued at $4,270,000 after acquiring an additional 2,126 shares during the period. Invesco Ltd. boosted its stake in John Hancock Preferred Income Fund III by 13.7% during the 3rd quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock worth $4,142,000 after acquiring an additional 32,293 shares during the last quarter. Royal Bank of Canada boosted its stake in John Hancock Preferred Income Fund III by 2.1% during the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock worth $2,348,000 after acquiring an additional 3,323 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in John Hancock Preferred Income Fund III by 0.6% during the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after purchasing an additional 898 shares during the period.

John Hancock Preferred Income Fund III Company Profile

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.