John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Sees Large Growth in Short Interest

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 10,574 shares, an increase of 258.3% from the August 15th total of 2,951 shares. Based on an average daily volume of 23,765 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On John Hancock Hedged Equity & Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HEQ. Advisory Solutions Group LLC acquired a new stake in John Hancock Hedged Equity & Income Fund in the second quarter worth approximately $119,000. Bank of America Corp DE lifted its holdings in shares of John Hancock Hedged Equity & Income Fund by 4.1% in the first quarter. Bank of America Corp DE now owns 304,521 shares of the investment management company’s stock valued at $3,307,000 after buying an additional 11,907 shares during the period. PNC Financial Services Group Inc. bought a new position in John Hancock Hedged Equity & Income Fund during the first quarter valued at about $109,000. Bulldog Investors LLP boosted its stake in John Hancock Hedged Equity & Income Fund by 46.2% during the first quarter. Bulldog Investors LLP now owns 558,291 shares of the investment management company’s stock valued at $6,063,000 after buying an additional 176,527 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in John Hancock Hedged Equity & Income Fund during the first quarter worth about $47,000.

John Hancock Hedged Equity & Income Fund Stock Performance

HEQ traded down $0.31 on Friday, reaching $11.32. The company had a trading volume of 23,493 shares, compared to its average volume of 39,054. The company has a fifty day moving average of $11.60 and a 200-day moving average of $11.42. John Hancock Hedged Equity & Income Fund has a one year low of $10.46 and a one year high of $12.00.

John Hancock Hedged Equity & Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.00 annualized dividend and a dividend yield of 8.8%.

About John Hancock Hedged Equity & Income Fund

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.