John Hancock Preferred Income Fund II (NYSE:HPF) Stock Passes Below 50-Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.92 and traded as low as $15.91. John Hancock Preferred Income Fund II shares last traded at $15.92, with a volume of 29,159 shares traded.

John Hancock Preferred Income Fund II Price Performance

The stock has a 50-day simple moving average of $15.92 and a two-hundred day simple moving average of $15.94.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be paid a $0.1235 dividend. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Western Wealth Management LLC purchased a new stake in John Hancock Preferred Income Fund II in the first quarter worth approximately $66,000. Jane Street Group LLC bought a new stake in John Hancock Preferred Income Fund II in the 4th quarter worth approximately $180,000. Kestra Private Wealth Services LLC purchased a new stake in John Hancock Preferred Income Fund II during the 4th quarter valued at $322,000. NewEdge Advisors LLC raised its stake 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 buying an additional 770 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in shares of John Hancock Preferred Income Fund II by 6.7% during the 2nd quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock valued at $328,000 after buying an additional 1,299 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.