John Hancock Preferred Income Fund (NYSE:HPI) Sees Significant Growth in Short Interest

John Hancock Preferred Income Fund (NYSE:HPI) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 39,900 shares, an increase of 102.5% from the August 31st total of 19,700 shares. Based on an average daily volume of 75,700 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 75,700 shares, the short-interest ratio is presently 0.5 days.

John Hancock Preferred Income Fund Stock Up 0.4%

Shares of John Hancock Preferred Income Fund stock opened at $17.48 on Monday. John Hancock Preferred Income Fund has a 52-week low of $14.61 and a 52-week high of $19.37. The company has a fifty day moving average of $16.46 and a 200-day moving average of $16.12.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be paid a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 8.5%. The ex-dividend date is Tuesday, October 14th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. KPP Advisory Services LLC bought a new position in shares of John Hancock Preferred Income Fund in the 2nd quarter worth about $215,000. Fifth Third Bancorp purchased a new position in shares of John Hancock Preferred Income Fund in the second quarter worth approximately $69,000. Kestra Advisory Services LLC lifted its holdings in John Hancock Preferred Income Fund by 9.0% during the first quarter. Kestra Advisory Services LLC now owns 108,071 shares of the company’s stock valued at $1,793,000 after purchasing an additional 8,883 shares in the last quarter. LPL Financial LLC lifted its holdings in John Hancock Preferred Income Fund by 7.5% during the first quarter. LPL Financial LLC now owns 183,128 shares of the company’s stock valued at $3,038,000 after purchasing an additional 12,718 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of John Hancock Preferred Income Fund by 2.4% during the first quarter. Cetera Investment Advisers now owns 33,147 shares of the company’s stock valued at $550,000 after buying an additional 765 shares during the last quarter.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.