Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Rises By 150.1%

John Hancock Preferred Income Fund II (NYSE:HPF) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 82,586 shares, a growth of 150.1% from the April 30th total of 33,023 shares. Based on an average trading volume of 35,684 shares, the days-to-cover ratio is presently 2.3 days.

John Hancock Preferred Income Fund II Trading Down 0.4%

Shares of HPF stock traded down $0.07 during trading hours on Monday, hitting $16.12. 25,293 shares of the company’s stock were exchanged, compared to its average volume of 38,279. John Hancock Preferred Income Fund II has a 12-month low of $15.06 and a 12-month high of $17.13. The business’s 50 day simple moving average is $15.79 and its 200-day simple moving average is $16.02.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were paid a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend was Monday, May 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of John Hancock Preferred Income Fund II by 6.4% in the fourth quarter. UBS Group AG now owns 361,631 shares of the company’s stock worth $5,811,000 after buying an additional 21,636 shares during the period. Axim Planning & Wealth increased its stake in shares of John Hancock Preferred Income Fund II by 3.3% in the third quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock worth $5,608,000 after buying an additional 10,752 shares during the period. Guggenheim Capital LLC increased its stake in shares of John Hancock Preferred Income Fund II by 73.1% in the fourth quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after buying an additional 102,627 shares during the period. Invesco Ltd. increased its stake in shares of John Hancock Preferred Income Fund II by 14.8% in the third quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock worth $3,083,000 after buying an additional 23,622 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of John Hancock Preferred Income Fund II by 1.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock worth $2,313,000 after buying an additional 1,463 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.