John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Significant Decline in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 43,236 shares, a decline of 70.4% from the May 31st total of 145,862 shares. Based on an average daily volume of 37,024 shares, the short-interest ratio is currently 1.2 days. Currently, 0.6% of the shares of the company are short sold.

John Hancock Preferred Income ETF Trading Up 0.3%

Shares of NYSEARCA JHPI opened at $22.73 on Tuesday. The stock has a 50 day moving average of $22.90 and a two-hundred day moving average of $22.96. John Hancock Preferred Income ETF has a twelve month low of $22.42 and a twelve month high of $23.56. The stock has a market cap of $177.29 million, a P/E ratio of 60.41 and a beta of 0.37.

Institutional Investors Weigh In On John Hancock Preferred Income ETF

Several large investors have recently modified their holdings of JHPI. Private Advisor Group LLC boosted its stake in shares of John Hancock Preferred Income ETF by 421.7% in the third quarter. Private Advisor Group LLC now owns 758,690 shares of the company’s stock valued at $17,579,000 after buying an additional 613,277 shares in the last quarter. LPL Financial LLC lifted its stake in shares of John Hancock Preferred Income ETF by 31.4% in the fourth quarter. LPL Financial LLC now owns 648,267 shares of the company’s stock valued at $14,804,000 after purchasing an additional 154,995 shares during the period. BDFS Capital LLC purchased a new stake in John Hancock Preferred Income ETF during the fourth quarter worth about $3,362,000. Burk Holdings LLC acquired a new position in John Hancock Preferred Income ETF during the third quarter worth about $2,846,000. Finally, Granite Bay Wealth Management LLC increased its holdings in John Hancock Preferred Income ETF by 8.8% in the fourth quarter. Granite Bay Wealth Management LLC now owns 769,129 shares of the company’s stock valued at $17,565,000 after buying an additional 62,491 shares in the last quarter.

John Hancock Preferred Income ETF Company Profile

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.