Western Wealth Management LLC Takes $469,000 Position in John Hancock Preferred Income Fund II $HPF

Western Wealth Management LLC purchased a new position in John Hancock Preferred Income Fund II (NYSE:HPF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,232 shares of the company’s stock, valued at approximately $469,000.

Several other large investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its holdings in John Hancock Preferred Income Fund II by 4.0% in the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after acquiring an additional 770 shares during the period. Raymond James Financial Inc. boosted its position in John Hancock Preferred Income Fund II by 6.7% in the second quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock worth $328,000 after purchasing an additional 1,299 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of John Hancock Preferred Income Fund II by 1.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after purchasing an additional 1,463 shares during the period. Wedbush Securities Inc. grew its stake in shares of John Hancock Preferred Income Fund II by 6.4% during the 4th quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock valued at $404,000 after purchasing an additional 1,512 shares during the period. Finally, Royal Bank of Canada increased its position in shares of John Hancock Preferred Income Fund II by 7.3% during the 4th quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock valued at $488,000 after purchasing an additional 2,078 shares during the last quarter.

John Hancock Preferred Income Fund II Trading Up 0.2%

Shares of NYSE:HPF opened at $15.72 on Wednesday. The firm’s 50 day moving average price is $15.86 and its 200-day moving average price is $15.88. John Hancock Preferred Income Fund II has a twelve month low of $15.06 and a twelve month high of $17.13.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.1235 per share. This represents a c) dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Thursday, August 13th.

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.