John Hancock Preferred Income Fund (NYSE:HPI) Shares Pass Below Fifty Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund (NYSE:HPI) shares passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.20 and traded as low as $16.77. John Hancock Preferred Income Fund shares last traded at $16.9150, with a volume of 42,238 shares changing hands.

John Hancock Preferred Income Fund Stock Up 0.1%

The business’s fifty day simple moving average is $17.20 and its two-hundred day simple moving average is $16.48.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a $0.1235 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a c) dividend on an annualized basis and a yield of 8.7%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank acquired a new stake in shares of John Hancock Preferred Income Fund in the 3rd quarter valued at approximately $35,000. Allworth Financial LP boosted its holdings in shares of John Hancock Preferred Income Fund by 181.9% during the 2nd quarter. Allworth Financial LP now owns 4,237 shares of the company’s stock worth $68,000 after buying an additional 2,734 shares during the period. Fifth Third Bancorp bought a new position in shares of John Hancock Preferred Income Fund during the second quarter worth approximately $69,000. Wolverine Asset Management LLC acquired a new position in shares of John Hancock Preferred Income Fund in the second quarter valued at about $172,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of John Hancock Preferred Income Fund during the second quarter worth approximately $204,000.

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.