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

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 4,601 shares, a drop of 68.8% from the February 12th total of 14,730 shares. Based on an average trading volume of 74,323 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 74,323 shares, the days-to-cover ratio is currently 0.1 days.

John Hancock Preferred Income Fund Stock Performance

Shares of HPI stock traded down $0.07 during mid-day trading on Friday, hitting $15.92. 32,361 shares of the stock traded hands, compared to its average volume of 60,724. John Hancock Preferred Income Fund has a 52-week low of $14.61 and a 52-week high of $17.61. The stock’s fifty day moving average is $16.22 and its two-hundred day moving average is $16.66.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be given a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 9.3%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Birchwood Financial Partners Inc. acquired a new position in shares of John Hancock Preferred Income Fund during the fourth quarter worth $73,000. Guggenheim Capital LLC boosted its position in shares of John Hancock Preferred Income Fund by 35.5% in the 4th quarter. Guggenheim Capital LLC now owns 211,737 shares of the company’s stock worth $3,428,000 after purchasing an additional 55,509 shares in the last quarter. Cetera Investment Advisers grew its stake in John Hancock Preferred Income Fund by 16.2% during the 4th quarter. Cetera Investment Advisers now owns 44,812 shares of the company’s stock worth $726,000 after buying an additional 6,253 shares during the last quarter. Osaic Holdings Inc. grew its stake in John Hancock Preferred Income Fund by 2.5% during the 4th quarter. Osaic Holdings Inc. now owns 45,877 shares of the company’s stock worth $743,000 after buying an additional 1,108 shares during the last quarter. Finally, Mariner LLC increased its position in John Hancock Preferred Income Fund by 6.8% during the 4th quarter. Mariner LLC now owns 56,132 shares of the company’s stock valued at $909,000 after buying an additional 3,590 shares in the last quarter.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.