John Hancock Preferred Income Fund (NYSE:HPI) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund (NYSE:HPI) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.95 and traded as high as $15.98. John Hancock Preferred Income Fund shares last traded at $15.94, with a volume of 81,441 shares changing hands.

John Hancock Preferred Income Fund Stock Up 0.9%

The business’s fifty day moving average is $15.94 and its 200-day moving average is $16.31.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 11th will be issued a $0.1235 dividend. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Monday, May 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank bought a new position in John Hancock Preferred Income Fund in the 3rd quarter valued at approximately $35,000. Arax Advisory Partners bought a new position in John Hancock Preferred Income Fund in the 4th quarter valued at approximately $37,000. Birchwood Financial Partners Inc. bought a new position in John Hancock Preferred Income Fund in the 4th quarter valued at approximately $73,000. Allworth Financial LP raised its holdings in John Hancock Preferred Income Fund by 47.7% in the 3rd quarter. Allworth Financial LP now owns 6,260 shares of the company’s stock valued at $109,000 after buying an additional 2,023 shares during the last quarter. Finally, Stifel Financial Corp bought a new position in John Hancock Preferred Income Fund in the 4th quarter valued at approximately $177,000.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.