John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Large Increase in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 134,705 shares, a growth of 347.3% from the April 30th total of 30,112 shares. Based on an average daily volume of 71,103 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.7% of the company’s stock are short sold.

John Hancock Preferred Income ETF Price Performance

JHPI opened at $22.86 on Friday. The business’s 50-day moving average price is $22.88 and its two-hundred day moving average price is $22.98. The company has a market capitalization of $178.31 million, a price-to-earnings ratio of 60.41 and a beta of 0.38. John Hancock Preferred Income ETF has a 1 year low of $22.24 and a 1 year high of $23.56.

Institutional Trading of John Hancock Preferred Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of JHPI. Private Advisor Group LLC increased its position in shares of John Hancock Preferred Income ETF by 421.7% in the third quarter. Private Advisor Group LLC now owns 758,690 shares of the company’s stock valued at $17,579,000 after acquiring an additional 613,277 shares during the last quarter. LPL Financial LLC increased its position in shares of John Hancock Preferred Income ETF by 31.4% in the fourth quarter. LPL Financial LLC now owns 648,267 shares of the company’s stock valued at $14,804,000 after acquiring an additional 154,995 shares during the last quarter. BDFS Capital LLC acquired a new stake in shares of John Hancock Preferred Income ETF in the fourth quarter valued at about $3,362,000. Burk Holdings LLC acquired a new stake in shares of John Hancock Preferred Income ETF in the third quarter valued at about $2,846,000. Finally, Uniting Wealth Partners LLC acquired a new stake in shares of John Hancock Preferred Income ETF in the third quarter valued at about $2,669,000.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.