John Hancock Premium Dividend Fund (NYSE:PDT) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

John Hancock Premium Dividend Fund (NYSE:PDT)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.71 and traded as high as $12.77. John Hancock Premium Dividend Fund shares last traded at $12.52, with a volume of 184,422 shares.

John Hancock Premium Dividend Fund Trading Down 2.0%

The stock has a 50-day simple moving average of $12.57 and a two-hundred day simple moving average of $12.71.

John Hancock Premium Dividend Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.0825 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.99 annualized dividend and a dividend yield of 7.91%.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Several institutional investors have recently made changes to their positions in the company. Ausdal Financial Partners Inc. increased its stake in shares of John Hancock Premium Dividend Fund by 1.7% during the fourth quarter. Ausdal Financial Partners Inc. now owns 57,932 shares of the real estate investment trust’s stock valued at $738,000 after buying an additional 983 shares during the period. Sound Income Strategies LLC boosted its stake in shares of John Hancock Premium Dividend Fund by 112.3% during the fourth quarter. Sound Income Strategies LLC now owns 1,923 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 1,017 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of John Hancock Premium Dividend Fund by 11.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,903 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 1,400 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of John Hancock Premium Dividend Fund by 0.6% during the fourth quarter. Pathway Financial Advisers LLC now owns 222,209 shares of the real estate investment trust’s stock valued at $2,831,000 after purchasing an additional 1,428 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of John Hancock Premium Dividend Fund by 8.9% during the first quarter. Janney Montgomery Scott LLC now owns 19,749 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund is a closed ended equity 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 markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.