John Hancock Premium Dividend Fund (NYSE:PDT) Stock Breaks Above 50 Day Moving Average – What’s Next?

John Hancock Premium Dividend Fund (NYSE:PDT)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $12.06 and traded as high as $12.27. John Hancock Premium Dividend Fund shares last traded at $12.1850, with a volume of 158,752 shares traded.

John Hancock Premium Dividend Fund Price Performance

The company has a 50 day simple moving average of $12.06 and a 200-day simple moving average of $12.78.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Tuesday, October 13th were paid a dividend of $0.0883 per share. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 8.7%.

Institutional Investors Weigh In On John Hancock Premium Dividend Fund

Institutional investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC grew its holdings in shares of John Hancock Premium Dividend Fund by 7.2% during the 3rd quarter. Axxcess Wealth Management LLC now owns 645,219 shares of the real estate investment trust’s stock valued at $7,562,000 after purchasing an additional 43,097 shares during the last quarter. Pathway Financial Advisers LLC raised its position in John Hancock Premium Dividend Fund by 1.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 232,538 shares of the real estate investment trust’s stock worth $2,725,000 after purchasing an additional 3,086 shares during the period. First Trust Advisors LP lifted its stake in 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 worth $1,870,000 after purchasing an additional 38,256 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in John Hancock Premium Dividend Fund by 18.6% in the first quarter. Kestra Advisory Services LLC now owns 86,676 shares of the real estate investment trust’s stock worth $1,135,000 after purchasing an additional 13,576 shares during the last quarter. Finally, Calamos Advisors LLC lifted its stake in John Hancock Premium Dividend Fund by 33.2% in the third quarter. Calamos Advisors LLC now owns 83,819 shares of the real estate investment trust’s stock worth $982,000 after purchasing an additional 20,898 shares during the last quarter. Hedge funds and other institutional investors own 12.98% of the company’s stock.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund (NYSE: PDT) is a diversified closed-end investment company managed by John Hancock Investment Management LLC. The fund seeks to provide investors with a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in income-producing securities, including preferred stocks and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities sector, although the fund may invest across other industries and in both domestic and international markets.