Insider Buying: John Hancock Preferred Income Fund III (NYSE:HPS) Director Acquires $11,997.47 in Stock

John Hancock Preferred Income Fund III (NYSE:HPS) Director Christine Hurtsellers acquired 809 shares of John Hancock Preferred Income Fund III stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $14.83 per share, with a total value of $11,997.47. Following the completion of the purchase, the director directly owned 809 shares in the company, valued at $11,997.47. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

John Hancock Preferred Income Fund III Price Performance

NYSE HPS traded down $0.05 on Thursday, hitting $14.82. 34,672 shares of the company traded hands, compared to its average volume of 60,246. The business’s 50 day moving average price is $14.49 and its 200-day moving average price is $14.69. John Hancock Preferred Income Fund III has a 52-week low of $13.80 and a 52-week high of $15.68.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 11th will be given a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend is Monday, May 11th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of John Hancock Preferred Income Fund III in the first quarter worth $92,000. Janney Montgomery Scott LLC boosted its holdings in John Hancock Preferred Income Fund III by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock worth $316,000 after buying an additional 1,987 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its stake in John Hancock Preferred Income Fund III by 3.4% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock worth $368,000 after buying an additional 844 shares in the last quarter. Readystate Asset Management LP bought a new stake in John Hancock Preferred Income Fund III during the fourth quarter valued at about $419,000. Finally, Royal Bank of Canada lifted its position in shares of John Hancock Preferred Income Fund III by 2.5% in the fourth quarter. Royal Bank of Canada now owns 161,596 shares of the company’s stock valued at $2,329,000 after acquiring an additional 4,002 shares in the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.