John Hancock Preferred Income Fund (HPI) to Issue Monthly Dividend of $0.12 on June 30th

John Hancock Preferred Income Fund (NYSE:HPI) declared a monthly dividend on Monday, June 1st. Shareholders of record on Thursday, June 11th will be paid a dividend of 0.1235 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, June 11th.

John Hancock Preferred Income Fund Stock Performance

Shares of NYSE HPI opened at $16.09 on Tuesday. John Hancock Preferred Income Fund has a 52-week low of $15.26 and a 52-week high of $17.61. The firm has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $16.21.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Institutional investors have recently modified their holdings of the company. Readystate Asset Management LP bought a new stake in shares of John Hancock Preferred Income Fund in the 1st quarter valued at $203,000. Royal Bank of Canada boosted its stake in shares of John Hancock Preferred Income Fund by 1.1% in the 1st quarter. Royal Bank of Canada now owns 254,181 shares of the company’s stock valued at $3,988,000 after purchasing an additional 2,823 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in John Hancock Preferred Income Fund by 2.3% during the first quarter. Kestra Advisory Services LLC now owns 87,939 shares of the company’s stock worth $1,380,000 after acquiring an additional 2,011 shares in the last quarter. Quantum Portfolio Management LLC bought a new position in John Hancock Preferred Income Fund during the first quarter worth $894,209,000. Finally, TSP Capital Management Group LLC boosted its stake in John Hancock Preferred Income Fund by 55.9% during the first quarter. TSP Capital Management Group LLC now owns 201,710 shares of the company’s stock worth $3,165,000 after acquiring an additional 72,350 shares in the last quarter.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.