John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Up 25.2% in March

John Hancock Preferred Income Fund III (NYSE:HPS) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 118,024 shares, a growth of 25.2% from the February 26th total of 94,284 shares. Based on an average daily trading volume, of 49,670 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Trading of John Hancock Preferred Income Fund III

Several large investors have recently added to or reduced their stakes in HPS. Albion Financial Group UT bought a new position in shares of John Hancock Preferred Income Fund III in the third quarter worth $1,072,000. Cetera Investment Advisers lifted its holdings in John Hancock Preferred Income Fund III by 3.1% in the second quarter. Cetera Investment Advisers now owns 140,155 shares of the company’s stock worth $1,999,000 after purchasing an additional 4,194 shares during the period. Guggenheim Capital LLC grew its position in John Hancock Preferred Income Fund III by 55.8% in the 2nd 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 in the last quarter. Royal Bank of Canada grew its position in John Hancock Preferred Income Fund III by 2.5% in the 4th quarter. Royal Bank of Canada now owns 161,596 shares of the company’s stock valued at $2,329,000 after buying an additional 4,002 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in John Hancock Preferred Income Fund III by 0.6% during the 3rd quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after buying an additional 898 shares during the period.

John Hancock Preferred Income Fund III Stock Up 0.2%

Shares of HPS stock traded up $0.03 during trading hours on Wednesday, reaching $14.27. The stock had a trading volume of 57,139 shares, compared to its average volume of 60,896. The firm has a 50-day simple moving average of $14.56 and a 200-day simple moving average of $14.83. John Hancock Preferred Income Fund III has a twelve month low of $13.08 and a twelve month high of $15.68.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend was Thursday, March 12th.

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.