John Hancock Premium Dividend Fund (NYSE:PDT) Hits New 1-Year Low – Should You Sell?

John Hancock Premium Dividend Fund (NYSE:PDT)’s stock price hit a new 52-week low on Wednesday. The company traded as low as $11.90 and last traded at $11.8850, with a volume of 97470 shares traded. The stock had previously closed at $12.10.

John Hancock Premium Dividend Fund Stock Down 1.0%

The firm’s 50 day simple moving average is $12.57 and its 200 day simple moving average is $12.85.

John Hancock Premium Dividend Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.0883 dividend. This represents a $1.06 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC increased its stake in John Hancock Premium Dividend Fund by 1.2% in the 1st quarter. Pathway Financial Advisers LLC now owns 231,745 shares of the real estate investment trust’s stock worth $3,036,000 after acquiring an additional 2,702 shares during the last quarter. 1607 Capital Partners LLC purchased a new position in shares of John Hancock Premium Dividend Fund in the fourth quarter valued at $2,708,000. First Trust Advisors LP grew its holdings in shares of John Hancock Premium Dividend Fund by 36.6% in the first quarter. First Trust Advisors LP now owns 142,765 shares of the real estate investment trust’s stock valued at $1,870,000 after purchasing an additional 38,256 shares in the last quarter. Absolute Investment Advisers LLC bought a new stake in John Hancock Premium Dividend Fund in the first quarter worth $1,145,000. Finally, Kestra Advisory Services LLC raised its stake in John Hancock Premium Dividend Fund by 18.6% during the first quarter. Kestra Advisory Services LLC now owns 86,676 shares of the real estate investment trust’s stock valued at $1,135,000 after purchasing an additional 13,576 shares in the last quarter. 12.98% of the stock is owned by institutional investors.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund (NYSE: PDT) is a closed-end management investment company that seeks to provide current income and long-term capital appreciation. The fund invests primarily in dividend-paying securities, including preferred and common stocks, with an emphasis on companies in the utility and energy sectors.

The fund’s portfolio may include securities issued by electric, gas and water utilities, telecommunications companies, pipelines and other infrastructure-related businesses.