John Hancock Preferred Income Fund III (NYSE:HPS) Stock Short Interest Report for September

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 1,034 shares, a decrease of 97.5% from the September 15th total of 40,637 shares. Based on an average daily volume of 166,226 shares, the short-interest ratio is currently 0.0 days.

John Hancock Preferred Income Fund III Price Performance

John Hancock Preferred Income Fund III stock traded up $0.12 during trading hours on Friday, reaching $11.84. The company had a trading volume of 137,264 shares, compared to its average volume of 68,898. John Hancock Preferred Income Fund III has a 12-month low of $11.52 and a 12-month high of $15.58. The company has a 50-day moving average price of $13.30 and a 200 day moving average price of $14.04.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $1.32 annualized dividend and a dividend yield of 11.2%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of John Hancock Preferred Income Fund III in the second quarter valued at about $38,000. NewEdge Advisors LLC raised its stake in shares of John Hancock Preferred Income Fund III by 17.9% during the second quarter. NewEdge Advisors LLC now owns 20,757 shares of the company’s stock valued at $302,000 after acquiring an additional 3,157 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of John Hancock Preferred Income Fund III during the second quarter worth about $253,000. Compass Financial Management LLC purchased a new stake in shares of John Hancock Preferred Income Fund III during the second quarter worth about $81,000. Finally, Focus Financial Network Inc. boosted its holdings in shares of John Hancock Preferred Income Fund III by 18.1% during the second quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock worth $215,000 after purchasing an additional 2,260 shares during the period.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a publicly traded closed-end fund listed on the New York Stock Exchange under the symbol HPS. The fund is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.

The fund’s primary objective is to provide a high level of current income. It invests mainly in preferred securities issued by companies in the financial, utility, telecommunications and other industries, while also investing in other income-producing securities when appropriate.