John Hancock Preferred Income Fund (NYSE:HPI) Stock Crosses Below Fifty Day Moving Average – Here’s Why

John Hancock Preferred Income Fund (NYSE:HPI)’s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.22 and traded as low as $16.76. John Hancock Preferred Income Fund shares last traded at $16.7750, with a volume of 29,880 shares.

John Hancock Preferred Income Fund Price Performance

The business’s fifty day simple moving average is $17.22 and its 200 day simple moving average is $16.45.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be issued a $0.1235 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a c) dividend on an annualized basis and a yield of 8.8%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

A number of institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC boosted its stake in shares of John Hancock Preferred Income Fund by 4.4% during the 3rd quarter. Private Advisor Group LLC now owns 15,440 shares of the company’s stock valued at $268,000 after buying an additional 651 shares during the last quarter. Mallini Complete Financial Planning LLC raised its holdings in John Hancock Preferred Income Fund by 4.1% in the third quarter. Mallini Complete Financial Planning LLC now owns 17,669 shares of the company’s stock valued at $307,000 after acquiring an additional 689 shares in the last quarter. NewEdge Advisors LLC boosted its stake in John Hancock Preferred Income Fund by 3.7% during the 3rd quarter. NewEdge Advisors LLC now owns 20,851 shares of the company’s stock valued at $362,000 after acquiring an additional 742 shares during the last quarter. Cetera Investment Advisers grew its holdings in John Hancock Preferred Income Fund by 2.4% during the 1st quarter. Cetera Investment Advisers now owns 33,147 shares of the company’s stock worth $550,000 after acquiring an additional 765 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of John Hancock Preferred Income Fund by 3.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 32,339 shares of the company’s stock worth $561,000 after purchasing an additional 998 shares during the last quarter.

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.