John Hancock Preferred Income Fund (HPI) To Go Ex-Dividend on September 12th

John Hancock Preferred Income Fund (NYSE:HPI) declared a monthly dividend on Wednesday, September 3rd, Wall Street Journal reports. Shareholders of record on Friday, September 12th will be given a dividend of 0.1235 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Friday, September 12th.

John Hancock Preferred Income Fund Stock Up 1.1%

HPI opened at $16.70 on Wednesday. John Hancock Preferred Income Fund has a fifty-two week low of $14.61 and a fifty-two week high of $19.43. The company has a fifty day moving average of $16.06 and a two-hundred day moving average of $16.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in John Hancock Preferred Income Fund by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 33,147 shares of the company’s stock valued at $550,000 after buying an additional 765 shares in the last quarter. SAM Advisors LLC lifted its stake in John Hancock Preferred Income Fund by 6.2% in the 1st quarter. SAM Advisors LLC now owns 26,696 shares of the company’s stock valued at $443,000 after buying an additional 1,553 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new position in John Hancock Preferred Income Fund in the 1st quarter valued at about $1,166,000. Stratos Wealth Partners LTD. purchased a new position in John Hancock Preferred Income Fund in the 1st quarter valued at about $434,000. Finally, Janney Montgomery Scott LLC purchased a new position in John Hancock Preferred Income Fund in the 1st quarter valued at about $436,000.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.