John Hancock Preferred Income Fund II (NYSE:HPF) Shares Pass Below 50-Day Moving Average – Here’s Why

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $16.85 and traded as low as $16.51. John Hancock Preferred Income Fund II shares last traded at $16.53, with a volume of 28,609 shares traded.

John Hancock Preferred Income Fund II Price Performance

The company’s fifty day moving average is $16.85 and its two-hundred day moving average is $17.31.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.48 annualized dividend and a dividend yield of 8.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Advisors LLC acquired a new stake in John Hancock Preferred Income Fund II during the 3rd quarter worth about $69,000. Wolverine Asset Management LLC acquired a new stake in John Hancock Preferred Income Fund II during the fourth quarter worth about $203,000. MSH Capital Advisors LLC purchased a new position in John Hancock Preferred Income Fund II during the fourth quarter valued at approximately $205,000. Raymond James Financial Inc. acquired a new position in John Hancock Preferred Income Fund II in the fourth quarter valued at approximately $284,000. Finally, Vanguard Capital Wealth Advisors boosted its position in John Hancock Preferred Income Fund II by 58.3% in the 4th quarter. Vanguard Capital Wealth Advisors now owns 19,000 shares of the company’s stock worth $314,000 after purchasing an additional 7,000 shares in the last quarter.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.