John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Down 20.5% in March

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 39,200 shares, a decrease of 20.5% from the February 28th total of 49,300 shares. Based on an average daily trading volume, of 45,600 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC bought a new position in shares of John Hancock Preferred Income Fund during the fourth quarter valued at about $175,000. Tandem Financial LLC purchased a new position in shares of John Hancock Preferred Income Fund in the 4th quarter worth approximately $40,000. TSP Capital Management Group LLC grew its holdings in shares of John Hancock Preferred Income Fund by 2.5% in the fourth quarter. TSP Capital Management Group LLC now owns 130,215 shares of the company’s stock valued at $2,165,000 after acquiring an additional 3,200 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in shares of John Hancock Preferred Income Fund during the fourth quarter valued at approximately $26,000. Finally, Wolverine Asset Management LLC purchased a new position in John Hancock Preferred Income Fund in the fourth quarter worth $44,000.

John Hancock Preferred Income Fund Stock Performance

HPI traded up $0.02 during trading on Tuesday, hitting $16.61. 13,836 shares of the company’s stock were exchanged, compared to its average volume of 40,965. The business’s 50 day moving average is $17.09 and its two-hundred day moving average is $17.47. John Hancock Preferred Income Fund has a fifty-two week low of $15.26 and a fifty-two week high of $19.43.

John Hancock Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 13th were paid a $0.1235 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.92%. The ex-dividend date of this dividend was Thursday, March 13th.

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.