John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Up 118.0% in February

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 94,284 shares, a growth of 118.0% from the February 12th total of 43,241 shares. Based on an average daily trading volume, of 55,745 shares, the short-interest ratio is presently 1.7 days. Based on an average daily trading volume, of 55,745 shares, the short-interest ratio is presently 1.7 days.

John Hancock Preferred Income Fund III Price Performance

Shares of HPS opened at $14.38 on Friday. The company’s fifty day moving average price is $14.64 and its 200-day moving average price is $14.89. 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 Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, March 12th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of John Hancock Preferred Income Fund III by 0.6% in the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock worth $2,284,000 after purchasing an additional 898 shares during the last quarter. Focus Financial Network Inc. boosted its position in John Hancock Preferred Income Fund III by 8.5% in the fourth quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock valued at $183,000 after buying an additional 1,000 shares during the last quarter. HighTower Advisors LLC increased its holdings in John Hancock Preferred Income Fund III by 6.7% in the 4th quarter. HighTower Advisors LLC now owns 22,666 shares of the company’s stock worth $327,000 after buying an additional 1,433 shares during the period. Post Resch Tallon Group Inc. increased its holdings in John Hancock Preferred Income Fund III by 6.4% in the 3rd quarter. Post Resch Tallon Group Inc. now owns 25,407 shares of the company’s stock worth $392,000 after buying an additional 1,533 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in John Hancock Preferred Income Fund III by 2,816.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,071 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares during the last quarter.

About John Hancock Preferred Income Fund III

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.