John Hancock Premium Dividend Fund (NYSE:PDT) Sets New 52-Week Low – Should You Sell?

John Hancock Premium Dividend Fund (NYSE:PDT)’s stock price hit a new 52-week low on Friday. The stock traded as low as $11.49 and last traded at $11.7520, with a volume of 36,632 shares changing hands. The stock had previously closed at $11.80.

John Hancock Premium Dividend Fund Stock Performance

The business’s 50 day simple moving average is $12.16 and its 200-day simple moving average is $12.66.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be issued a dividend of $0.0883 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Tuesday, October 13th.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC increased its position in John Hancock Premium Dividend Fund by 7.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 645,219 shares of the real estate investment trust’s stock valued at $7,562,000 after acquiring an additional 43,097 shares during the period. AdvisorNet Financial Inc boosted its position in John Hancock Premium Dividend Fund by 36.7% during the 3rd quarter. AdvisorNet Financial Inc now owns 14,898 shares of the real estate investment trust’s stock worth $175,000 after acquiring an additional 4,000 shares during the period. Integrated Capital Management Inc. acquired a new position in John Hancock Premium Dividend Fund during the 3rd quarter worth $246,000. Arlington Capital Management Inc. boosted its position in John Hancock Premium Dividend Fund by 7.2% during the 2nd quarter. Arlington Capital Management Inc. now owns 21,440 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 1,441 shares during the period. Finally, Saba Capital Management L.P. bought a new position in shares of John Hancock Premium Dividend Fund in the first quarter worth $380,000. 12.98% of the stock is owned by institutional investors.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund (NYSE: PDT) is a diversified closed-end investment company managed by John Hancock Investment Management LLC. The fund seeks to provide investors with a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in income-producing securities, including preferred stocks and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities sector, although the fund may invest across other industries and in both domestic and international markets.