John Hancock Preferred Income Fund (NYSE:HPI) Stock Price Passes Below 50-Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund (NYSE:HPI) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $17.13 and traded as low as $16.69. John Hancock Preferred Income Fund shares last traded at $16.74, with a volume of 53,426 shares traded.

John Hancock Preferred Income Fund Stock Performance

The company has a 50 day simple moving average of $17.13 and a two-hundred day simple moving average of $17.51.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be given a $0.1235 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.48 dividend on an annualized basis and a yield of 8.85%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

A number of institutional investors have recently bought and sold shares of HPI. Invesco Ltd. increased its stake in shares of John Hancock Preferred Income Fund by 10.6% in the fourth quarter. Invesco Ltd. now owns 193,150 shares of the company’s stock worth $3,212,000 after acquiring an additional 18,482 shares during the period. Cohen & Steers Inc. acquired a new stake in John Hancock Preferred Income Fund during the 4th quarter worth about $572,000. LaSalle St. Investment Advisors LLC acquired a new stake in John Hancock Preferred Income Fund during the 4th quarter worth about $441,000. LPL Financial LLC raised its stake in shares of John Hancock Preferred Income Fund by 9.8% during the 4th quarter. LPL Financial LLC now owns 170,410 shares of the company’s stock valued at $2,834,000 after buying an additional 15,257 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of John Hancock Preferred Income Fund in the 4th quarter valued at about $1,786,000.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.