John Hancock Preferred Income Fund III (NYSE:HPS) Sees Large Growth in Short Interest

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 17,995 shares, a growth of 1,640.3% from the September 30th total of 1,034 shares. Based on an average daily trading volume, of 163,681 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently made changes to their positions in the company. Shaker Financial Services LLC acquired a new position in shares of John Hancock Preferred Income Fund III in the third quarter valued at $1,097,000. B. Riley Wealth Advisors Inc. increased its position in shares of John Hancock Preferred Income Fund III by 9.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,334 shares of the company’s stock worth $148,000 after purchasing an additional 1,039 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in John Hancock Preferred Income Fund III during the second quarter worth about $38,000. NewEdge Advisors LLC lifted its holdings in shares of John Hancock Preferred Income Fund III by 17.9% during the 2nd quarter. NewEdge Advisors LLC now owns 20,757 shares of the company’s stock worth $302,000 after acquiring an additional 3,157 shares during the period. Finally, Compass Financial Management LLC acquired a new stake in John Hancock Preferred Income Fund III in the second quarter valued at about $81,000.

John Hancock Preferred Income Fund III Stock Down 0.4%

Shares of John Hancock Preferred Income Fund III stock traded down $0.04 on Wednesday, reaching $11.70. The stock had a trading volume of 48,707 shares, compared to its average volume of 74,533. John Hancock Preferred Income Fund III has a 1 year low of $11.39 and a 1 year high of $15.54. The company has a 50 day moving average price of $12.68 and a 200 day moving average price of $14.03.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.32 dividend on an annualized basis and a yield of 11.3%.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed-end investment fund listed on the New York Stock Exchange under the symbol HPS. The fund seeks to provide a high level of current income by investing primarily in preferred securities and other income-producing investments.

The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and other companies, corporate debt securities, and convertible securities. These investments can provide exposure to a range of industries and may include issuers based in the United States and other countries, subject to the fund’s investment policies.

John Hancock Preferred Income Fund III is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.