John Hancock Preferred Income Fund II (NYSE:HPF) Stock Crosses Above 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund II (NYSE:HPF) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.91 and traded as high as $15.98. John Hancock Preferred Income Fund II shares last traded at $15.9450, with a volume of 23,046 shares.

John Hancock Preferred Income Fund II Stock Performance

The business has a fifty day simple moving average of $15.91 and a two-hundred day simple moving average of $15.94.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be given a dividend of $0.1235 per share. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Monday, July 13th.

Institutional Trading of John Hancock Preferred Income Fund II

Several institutional investors have recently bought and sold shares of HPF. UBS Group AG raised its stake in John Hancock Preferred Income Fund II by 6.4% during the fourth quarter. UBS Group AG now owns 361,631 shares of the company’s stock worth $5,811,000 after acquiring an additional 21,636 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of John Hancock Preferred Income Fund II by 73.1% in the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock valued at $3,905,000 after purchasing an additional 102,627 shares in the last quarter. Invesco Ltd. boosted its stake in shares of John Hancock Preferred Income Fund II by 14.8% in the 3rd quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock valued at $3,083,000 after purchasing an additional 23,622 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of John Hancock Preferred Income Fund II by 1.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock worth $2,313,000 after purchasing an additional 1,463 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of John Hancock Preferred Income Fund II by 23.0% in the 4th quarter. LPL Financial LLC now owns 95,557 shares of the company’s stock worth $1,536,000 after purchasing an additional 17,847 shares during the last quarter.

John Hancock Preferred Income Fund II Company Profile

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.