91,089 Shares of John Hancock Preferred Income Fund III $HPS Purchased by Shaker Financial Services LLC

Shaker Financial Services LLC purchased a new stake in John Hancock Preferred Income Fund III (NYSE:HPS) during the third quarter, HoldingsChannel reports. The institutional investor purchased 91,089 shares of the company’s stock, valued at approximately $1,097,000.

Several other institutional investors and hedge funds also recently modified their holdings of HPS. Integrated Wealth Concepts LLC bought a new position in shares of John Hancock Preferred Income Fund III during the second quarter worth about $38,000. Compass Financial Management LLC acquired a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at approximately $81,000. Fifth Third Bancorp bought a new stake in John Hancock Preferred Income Fund III in the 1st quarter valued at approximately $92,000. B. Riley Wealth Advisors Inc. lifted its stake in John Hancock Preferred Income Fund III by 9.2% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,334 shares of the company’s stock valued at $148,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its stake in John Hancock Preferred Income Fund III by 18.1% in the 2nd quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock valued at $215,000 after acquiring an additional 2,260 shares in the last quarter.

John Hancock Preferred Income Fund III Trading Down 1.5%

NYSE:HPS traded down $0.17 during trading hours on Wednesday, reaching $11.52. 93,855 shares of the stock were exchanged, compared to its average volume of 69,545. John Hancock Preferred Income Fund III has a twelve month low of $11.51 and a twelve month high of $15.54. The firm has a 50 day moving average of $13.19 and a 200 day moving average of $14.00.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.32 annualized dividend and a yield of 11.5%.

John Hancock Preferred Income Fund III Profile

John Hancock Preferred Income Fund III is a closed-end investment fund listed on the New York Stock Exchange under the symbol HPS. The fund seeks to provide a high level of current income by investing primarily in preferred securities and other income-producing investments.

The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and other companies, corporate debt securities, and convertible securities. These investments can provide exposure to a range of industries and may include issuers based in the United States and other countries, subject to the fund’s investment policies.

John Hancock Preferred Income Fund III is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.