John Hancock Preferred Income Fund Announces Monthly Dividend of $0.12 (NYSE:HPI)

John Hancock Preferred Income Fund (NYSE:HPI) announced a monthly dividend on Friday, December 19th. Investors of record on Monday, December 29th will be given a dividend of 0.1235 per share on Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Monday, December 29th.

John Hancock Preferred Income Fund Price Performance

Shares of HPI opened at $16.38 on Friday. John Hancock Preferred Income Fund has a 52 week low of $14.61 and a 52 week high of $17.78. The stock has a 50 day moving average price of $16.93 and a two-hundred day moving average price of $16.57.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several hedge funds have recently modified their holdings of HPI. Allworth Financial LP grew its holdings in shares of John Hancock Preferred Income Fund by 47.7% in the third quarter. Allworth Financial LP now owns 6,260 shares of the company’s stock valued at $109,000 after acquiring an additional 2,023 shares in the last quarter. NewEdge Advisors LLC grew its stake in John Hancock Preferred Income Fund by 3.7% in the 3rd quarter. NewEdge Advisors LLC now owns 20,851 shares of the company’s stock valued at $362,000 after purchasing an additional 742 shares during the period. Mariner LLC grew its stake in John Hancock Preferred Income Fund by 28.7% in the 3rd quarter. Mariner LLC now owns 52,542 shares of the company’s stock valued at $912,000 after purchasing an additional 11,713 shares during the period. Raymond James Financial Inc. increased its position in shares of John Hancock Preferred Income Fund by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 121,657 shares of the company’s stock valued at $2,111,000 after purchasing an additional 3,557 shares during the last quarter. Finally, Arlington Capital Management Inc. bought a new stake in shares of John Hancock Preferred Income Fund during the 3rd quarter worth $219,000.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.