Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Increases By 25.2%

John Hancock Preferred Income Fund III (NYSE:HPS) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 118,024 shares, an increase of 25.2% from the February 26th total of 94,284 shares. Based on an average daily trading volume, of 49,670 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Trading of John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Albion Financial Group UT acquired a new stake in shares of John Hancock Preferred Income Fund III during the third quarter worth $1,072,000. Cetera Investment Advisers lifted its stake in John Hancock Preferred Income Fund III by 3.1% in the second quarter. Cetera Investment Advisers now owns 140,155 shares of the company’s stock valued at $1,999,000 after buying an additional 4,194 shares during the period. Guggenheim Capital LLC lifted its stake in John Hancock Preferred Income Fund III by 55.8% in the second quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock valued at $2,500,000 after buying an additional 62,819 shares during the period. Invesco Ltd. boosted its holdings in John Hancock Preferred Income Fund III by 13.7% during the third quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock worth $4,142,000 after buying an additional 32,293 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in John Hancock Preferred Income Fund III by 6.5% during the second quarter. Bank of America Corp DE now owns 147,009 shares of the company’s stock worth $2,096,000 after buying an additional 9,031 shares during the last quarter.

John Hancock Preferred Income Fund III Stock Up 3.1%

NYSE HPS traded up $0.43 on Tuesday, hitting $14.26. 111,888 shares of the company were exchanged, compared to its average volume of 61,065. John Hancock Preferred Income Fund III has a 1-year low of $13.08 and a 1-year high of $15.68. The firm has a 50 day moving average of $14.56 and a two-hundred day moving average of $14.83.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Thursday, March 12th.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.