John Hancock Preferred Income Fund III (NYSE:HPS) Sees Significant Drop in Short Interest

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 23,092 shares, a drop of 60.4% from the December 15th total of 58,336 shares. Based on an average daily trading volume, of 83,383 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 83,383 shares, the short-interest ratio is presently 0.3 days.

John Hancock Preferred Income Fund III Stock Performance

Shares of HPS stock traded up $0.04 on Friday, hitting $14.58. 61,543 shares of the stock traded hands, compared to its average volume of 70,859. The company’s fifty day moving average is $14.69 and its 200 day moving average is $14.83. John Hancock Preferred Income Fund III has a 1-year low of $13.08 and a 1-year high of $15.68.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 12th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a c) annualized dividend and a dividend yield of 9.1%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

A number of large investors have recently bought and sold shares of HPS. UBS Group AG grew its holdings in shares of John Hancock Preferred Income Fund III by 10.8% during the third quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock valued at $17,626,000 after purchasing an additional 111,560 shares during the last quarter. Invesco Ltd. increased its position in John Hancock Preferred Income Fund III by 13.7% in the third quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock worth $4,142,000 after buying an additional 32,293 shares during the period. Guggenheim Capital LLC lifted its stake in John Hancock Preferred Income Fund III by 55.8% in the second quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock valued at $2,500,000 after buying an additional 62,819 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of John Hancock Preferred Income Fund III by 0.6% during the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after acquiring an additional 898 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of John Hancock Preferred Income Fund III by 3.6% during the third quarter. Ameriprise Financial Inc. now owns 142,701 shares of the company’s stock worth $2,203,000 after acquiring an additional 4,993 shares during the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.