John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.80 and traded as high as $15.94. John Hancock Preferred Income Fund II shares last traded at $15.8780, with a volume of 54,168 shares.

John Hancock Preferred Income Fund II Stock Performance

The firm’s 50 day moving average price is $15.80 and its two-hundred day moving average price is $16.12.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 13th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a c) annualized dividend and a dividend yield of 9.3%.

Institutional Trading of John Hancock Preferred Income Fund II

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG boosted its holdings in shares of John Hancock Preferred Income Fund II by 6.4% during the 4th quarter. UBS Group AG now owns 361,631 shares of the company’s stock worth $5,811,000 after buying an additional 21,636 shares during the period. Axim Planning & Wealth boosted its holdings in shares of John Hancock Preferred Income Fund II by 3.3% during the 3rd quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock worth $5,608,000 after buying an additional 10,752 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of John Hancock Preferred Income Fund II by 73.1% during the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after buying an additional 102,627 shares during the period. Invesco Ltd. boosted its holdings in shares of John Hancock Preferred Income Fund II by 14.8% during the 3rd quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock worth $3,083,000 after buying an additional 23,622 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of John Hancock Preferred Income Fund II by 1.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock worth $2,313,000 after buying an additional 1,463 shares during the period.

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.