John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund III (NYSE:HPS)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $14.52 and traded as high as $14.55. John Hancock Preferred Income Fund III shares last traded at $14.5310, with a volume of 51,908 shares changing hands.

John Hancock Preferred Income Fund III Stock Down 0.1%

The stock’s fifty day simple moving average is $14.52 and its two-hundred day simple moving average is $14.51.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, July 13th. This represents a c) annualized dividend and a dividend yield of 9.1%.

Institutional Trading of John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new stake in John Hancock Preferred Income Fund III during the first quarter worth about $459,000. Royal Bank of Canada boosted its stake in John Hancock Preferred Income Fund III by 2.1% during the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after purchasing an additional 3,323 shares in the last quarter. Fifth Third Bancorp acquired a new position in John Hancock Preferred Income Fund III during the first quarter worth about $92,000. Janney Montgomery Scott LLC grew its stake in shares of 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 purchasing an additional 1,987 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its holdings in shares of John Hancock Preferred Income Fund III by 3.4% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock valued at $368,000 after buying an additional 844 shares in the last quarter.

About John Hancock Preferred Income Fund III

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.