John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) saw a significant drop in short interest in January. As of January 15th, there was short interest totaling 10,367 shares, a drop of 55.1% from the December 31st total of 23,092 shares. Based on an average trading volume of 73,260 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 73,260 shares, the short-interest ratio is presently 0.1 days.

John Hancock Preferred Income Fund III Stock Performance

Shares of HPS stock traded up $0.04 during trading hours on Thursday, reaching $14.62. 87,338 shares of the company’s stock were exchanged, compared to its average volume of 64,113. John Hancock Preferred Income Fund III has a fifty-two week low of $13.08 and a fifty-two week high of $15.68. The stock’s 50 day moving average is $14.58 and its 200-day moving average is $14.84.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 12th will be paid a $0.11 dividend. The ex-dividend date is Monday, January 12th. This represents a c) dividend on an annualized basis and a yield of 9.0%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its stake in John Hancock Preferred Income Fund III by 10.8% in the 3rd quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock worth $17,626,000 after purchasing an additional 111,560 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of John Hancock Preferred Income Fund III during the third quarter worth $1,072,000. Guggenheim Capital LLC grew its holdings in shares of John Hancock Preferred Income Fund III by 55.8% during the second quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock valued at $2,500,000 after buying an additional 62,819 shares during the last quarter. Invesco Ltd. increased its position in shares of John Hancock Preferred Income Fund III by 13.7% in the 3rd quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock valued at $4,142,000 after acquiring an additional 32,293 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in John Hancock Preferred Income Fund III in the 2nd quarter worth $395,000.

John Hancock Preferred Income Fund III Company Profile

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.