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

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

Institutional Trading of John Hancock Preferred Income Fund

Several hedge funds have recently modified their holdings of the stock. WASHINGTON TRUST Co bought a new stake in John Hancock Preferred Income Fund in the fourth quarter valued at $26,000. Tandem Financial LLC bought a new stake in shares of John Hancock Preferred Income Fund during the fourth quarter valued at approximately $40,000. Wolverine Asset Management LLC acquired a new position in shares of John Hancock Preferred Income Fund during the fourth quarter worth approximately $44,000. Ameriflex Group Inc. bought a new position in shares of John Hancock Preferred Income Fund in the 4th quarter worth $46,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in John Hancock Preferred Income Fund in the 4th quarter valued at $127,000.

John Hancock Preferred Income Fund Stock Performance

HPI stock opened at $16.61 on Monday. The company’s fifty day simple moving average is $17.10 and its 200 day simple moving average is $17.48. John Hancock Preferred Income Fund has a 12-month low of $15.26 and a 12-month high of $19.43.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.92%. The ex-dividend date of this dividend is 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.