Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Decreases By 76.8%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the recipient of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 22,451 shares, a decrease of 76.8% from the January 15th total of 96,670 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 36,548 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 36,548 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Trading of John Hancock Preferred Income ETF

A number of hedge funds have recently modified their holdings of JHPI. Spire Wealth Management acquired a new stake in shares of John Hancock Preferred Income ETF during the 3rd quarter worth approximately $50,000. International Assets Investment Management LLC bought a new position in John Hancock Preferred Income ETF in the fourth quarter worth $75,000. Capital Advisors Ltd. LLC boosted its stake in John Hancock Preferred Income ETF by 93.2% during the third quarter. Capital Advisors Ltd. LLC now owns 7,462 shares of the company’s stock worth $173,000 after buying an additional 3,599 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in John Hancock Preferred Income ETF by 114.6% during the fourth quarter. Farther Finance Advisors LLC now owns 7,829 shares of the company’s stock worth $179,000 after buying an additional 4,180 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in John Hancock Preferred Income ETF in the 2nd quarter valued at $220,000.

John Hancock Preferred Income ETF Price Performance

NYSEARCA JHPI opened at $23.19 on Friday. The company’s fifty day moving average is $23.02 and its two-hundred day moving average is $23.05. John Hancock Preferred Income ETF has a 52-week low of $21.57 and a 52-week high of $23.56. The firm has a market capitalization of $148.42 million, a price-to-earnings ratio of 60.41 and a beta of 0.40.

John Hancock Preferred Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, January 28th were paid a dividend of $0.0452 per share. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, January 28th.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.