John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Up 57.7% in March

John Hancock Preferred Income Fund II (NYSE:HPF) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 49,547 shares, a growth of 57.7% from the March 15th total of 31,422 shares. Based on an average daily trading volume, of 42,635 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

A number of large investors have recently modified their holdings of HPF. Jane Street Group LLC bought a new position in John Hancock Preferred Income Fund II in the fourth quarter worth $180,000. Readystate Asset Management LP purchased a new stake in shares of John Hancock Preferred Income Fund II in the 3rd quarter worth about $195,000. Spire Wealth Management grew its position in shares of John Hancock Preferred Income Fund II by 25.0% in the 3rd quarter. Spire Wealth Management now owns 12,384 shares of the company’s stock worth $209,000 after buying an additional 2,478 shares during the period. Kestra Private Wealth Services LLC bought a new position in shares of John Hancock Preferred Income Fund II in the 4th quarter worth about $322,000. Finally, NewEdge Advisors LLC lifted its position in John Hancock Preferred Income Fund II by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after acquiring an additional 770 shares during the period.

John Hancock Preferred Income Fund II Trading Up 0.4%

HPF stock traded up $0.06 during trading on Wednesday, hitting $15.84. 8,000 shares of the company traded hands, compared to its average volume of 38,851. The company has a 50-day moving average of $15.86 and a 200-day moving average of $16.20. John Hancock Preferred Income Fund II has a 1 year low of $15.06 and a 1 year high of $17.13.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 13th will be given a dividend of $0.1235 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) dividend on an annualized basis and a yield of 9.4%.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.