Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Grows By 61.0%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 12,609 shares, an increase of 61.0% from the February 26th total of 7,830 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 59,483 shares, the short-interest ratio is currently 0.2 days.

John Hancock Preferred Income ETF Price Performance

Shares of JHPI traded down $0.18 on Friday, hitting $22.48. The company’s stock had a trading volume of 28,734 shares, compared to its average volume of 51,873. The company has a market capitalization of $143.87 million, a PE ratio of 60.41 and a beta of 0.40. John Hancock Preferred Income ETF has a fifty-two week low of $21.57 and a fifty-two week high of $23.56. The company has a 50 day moving average price of $23.06 and a 200 day moving average price of $23.08.

John Hancock Preferred Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 25th were issued a $0.0365 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, February 25th.

Institutional Investors Weigh In On John Hancock Preferred Income ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new stake in John Hancock Preferred Income ETF in the 4th quarter valued at about $48,000. Spire Wealth Management bought a new stake in shares of John Hancock Preferred Income ETF during the third quarter valued at approximately $50,000. International Assets Investment Management LLC bought a new stake in shares of John Hancock Preferred Income ETF during the fourth quarter valued at approximately $75,000. Capital Advisors Ltd. LLC increased its holdings in shares of John Hancock Preferred Income ETF by 93.2% in the third quarter. Capital Advisors Ltd. LLC now owns 7,462 shares of the company’s stock valued at $173,000 after purchasing an additional 3,599 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of John Hancock Preferred Income ETF by 114.6% in the fourth quarter. Farther Finance Advisors LLC now owns 7,829 shares of the company’s stock valued at $179,000 after purchasing an additional 4,180 shares in the last quarter.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.