John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Update

John Hancock Preferred Income Fund (NYSE:HPI) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 17,800 shares, a growth of 9.9% from the December 15th total of 16,200 shares. Based on an average daily volume of 48,700 shares, the short-interest ratio is currently 0.4 days.

John Hancock Preferred Income Fund Stock Performance

Shares of HPI traded down $0.08 during mid-day trading on Monday, reaching $17.17. The company had a trading volume of 25,616 shares, compared to its average volume of 52,420. The firm has a 50-day moving average price of $17.06 and a 200 day moving average price of $17.51. John Hancock Preferred Income Fund has a 52 week low of $15.26 and a 52 week high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 8.63%. The ex-dividend date of this dividend is Monday, December 30th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC bought a new position in John Hancock Preferred Income Fund in the 4th quarter worth about $175,000. SAM Advisors LLC increased its stake in John Hancock Preferred Income Fund by 3.4% during the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock valued at $510,000 after purchasing an additional 886 shares in the last quarter. Fiera Capital Corp raised its holdings in John Hancock Preferred Income Fund by 1.5% in the third quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock worth $1,489,000 after buying an additional 1,170 shares during the last quarter. Finally, US Bancorp DE bought a new position in shares of John Hancock Preferred Income Fund in the third quarter worth approximately $95,000.

About John Hancock Preferred Income Fund

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.