John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund II (NYSE:HPF) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.88 and traded as high as $16.00. John Hancock Preferred Income Fund II shares last traded at $15.9650, with a volume of 31,130 shares changing hands.

John Hancock Preferred Income Fund II Trading Down 0.1%

The company has a fifty day moving average price of $15.88 and a 200 day moving average price of $15.90.

John Hancock Preferred Income Fund II Dividend Announcement

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

Institutional Trading of John Hancock Preferred Income Fund II

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of John Hancock Preferred Income Fund II during the 2nd quarter worth $209,000. OneAscent Financial Services LLC bought a new position in John Hancock Preferred Income Fund II in the second quarter valued at $185,000. MSH Capital Advisors LLC bought a new position in John Hancock Preferred Income Fund II in the second quarter valued at $165,000. Global Retirement Partners LLC purchased a new stake in John Hancock Preferred Income Fund II during the second quarter valued at about $94,000. Finally, Western Wealth Management LLC purchased a new stake in John Hancock Preferred Income Fund II during the first quarter valued at about $66,000.

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.