John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Passes Above 50 Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.13 and traded as high as $15.17. John Hancock Preferred Income Fund III shares last traded at $15.08, with a volume of 30,899 shares changing hands.

John Hancock Preferred Income Fund III Trading Down 0.4 %

The company’s 50-day moving average is $15.13 and its 200-day moving average is $15.64.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 13th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.75%.

Institutional Trading of John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently modified their holdings of HPS. Invesco Ltd. lifted its holdings in John Hancock Preferred Income Fund III by 10.8% during the 4th quarter. Invesco Ltd. now owns 227,301 shares of the company’s stock worth $3,416,000 after buying an additional 22,161 shares in the last quarter. LPL Financial LLC lifted its stake in shares of John Hancock Preferred Income Fund III by 112.0% during the fourth quarter. LPL Financial LLC now owns 212,722 shares of the company’s stock valued at $3,197,000 after acquiring an additional 112,363 shares during the period. Cetera Investment Advisers lifted its stake in shares of John Hancock Preferred Income Fund III by 18.8% during the fourth quarter. Cetera Investment Advisers now owns 136,659 shares of the company’s stock valued at $2,054,000 after acquiring an additional 21,649 shares during the period. Bank of America Corp DE increased its position in John Hancock Preferred Income Fund III by 17.2% in the fourth quarter. Bank of America Corp DE now owns 88,942 shares of the company’s stock worth $1,337,000 after purchasing an additional 13,057 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in John Hancock Preferred Income Fund III by 153.9% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 49,357 shares of the company’s stock worth $742,000 after purchasing an additional 29,916 shares during the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III 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.