John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 58,336 shares, a drop of 58.6% from the November 30th total of 140,914 shares. Based on an average trading volume of 85,659 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 85,659 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

A number of institutional investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC acquired a new position in John Hancock Preferred Income Fund III in the second quarter valued at about $52,000. Wolverine Asset Management LLC bought a new stake in shares of John Hancock Preferred Income Fund III in the 2nd quarter valued at about $59,000. Fifth Third Bancorp bought a new stake in shares of John Hancock Preferred Income Fund III in the 2nd quarter valued at about $72,000. Stratos Wealth Partners LTD. acquired a new stake in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at approximately $159,000. Finally, Focus Financial Network Inc. boosted its stake in John Hancock Preferred Income Fund III by 10.9% during the 2nd quarter. Focus Financial Network Inc. now owns 11,398 shares of the company’s stock worth $163,000 after acquiring an additional 1,116 shares during the last quarter.

John Hancock Preferred Income Fund III Stock Performance

John Hancock Preferred Income Fund III stock traded up $0.01 during trading hours on Friday, reaching $14.45. 78,989 shares of the company’s stock traded hands, compared to its average volume of 65,732. John Hancock Preferred Income Fund III has a fifty-two week low of $13.08 and a fifty-two week high of $15.68. The firm’s 50 day moving average is $14.94 and its 200-day moving average is $14.80.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, December 11th. This represents a c) annualized dividend and a dividend yield of 9.1%.

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.