Short Interest in John Hancock Preferred Income Fund (NYSE:HPI) Declines By 51.3%

John Hancock Preferred Income Fund (NYSE:HPI) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 141,437 shares, a decline of 51.3% from the December 15th total of 290,711 shares. Based on an average trading volume of 71,892 shares, the days-to-cover ratio is currently 2.0 days. Based on an average trading volume of 71,892 shares, the days-to-cover ratio is currently 2.0 days.

John Hancock Preferred Income Fund Price Performance

NYSE:HPI traded down $0.01 during mid-day trading on Wednesday, reaching $16.26. 45,505 shares of the company’s stock were exchanged, compared to its average volume of 59,078. John Hancock Preferred Income Fund has a one year low of $14.61 and a one year high of $17.78. The business’s fifty day simple moving average is $16.66 and its two-hundred day simple moving average is $16.61.

John Hancock Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.1235 per share. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Monday, December 29th.

Institutional Trading of John Hancock Preferred Income Fund

Institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new position in John Hancock Preferred Income Fund in the third quarter valued at about $35,000. Allworth Financial LP increased its holdings in John Hancock Preferred Income Fund by 181.9% in the 2nd quarter. Allworth Financial LP now owns 4,237 shares of the company’s stock valued at $68,000 after buying an additional 2,734 shares during the period. Fifth Third Bancorp acquired a new position in shares of John Hancock Preferred Income Fund in the 2nd quarter valued at approximately $69,000. Wolverine Asset Management LLC bought a new stake in shares of John Hancock Preferred Income Fund during the 2nd quarter worth approximately $172,000. Finally, Arlington Capital Management Inc. bought a new stake in shares of John Hancock Preferred Income Fund during the 3rd quarter worth approximately $219,000.

John Hancock Preferred Income Fund Company Profile

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.