John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Down 74.8% in December

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 12,100 shares, a decline of 74.8% from the December 15th total of 48,000 shares. Based on an average daily trading volume, of 35,800 shares, the days-to-cover ratio is currently 0.3 days.

HPF stock traded down $0.29 during trading on Friday, hitting $20.59. The company had a trading volume of 1,510 shares, compared to its average volume of 39,326. The company has a fifty day moving average price of $21.11 and a two-hundred day moving average price of $21.67. John Hancock Preferred Income Fund II has a fifty-two week low of $18.28 and a fifty-two week high of $22.93.

The business also recently declared a monthly dividend, which will be paid on Monday, January 31st. Investors of record on Thursday, January 13th will be paid a $0.123 dividend. This represents a $1.48 annualized dividend and a yield of 7.17%. The ex-dividend date is Wednesday, January 12th.

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in John Hancock Preferred Income Fund II by 2.2% in the 2nd quarter. Royal Bank of Canada now owns 29,828 shares of the company’s stock valued at $644,000 after purchasing an additional 656 shares during the last quarter. Advisor Group Holdings Inc. raised its position in John Hancock Preferred Income Fund II by 1.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 67,302 shares of the company’s stock valued at $1,460,000 after purchasing an additional 876 shares during the last quarter. Wedbush Securities Inc. raised its position in John Hancock Preferred Income Fund II by 8.5% in the 3rd quarter. Wedbush Securities Inc. now owns 11,199 shares of the company’s stock valued at $243,000 after purchasing an additional 880 shares during the last quarter. Wells Fargo & Company MN raised its position in John Hancock Preferred Income Fund II by 6.1% in the 2nd quarter. Wells Fargo & Company MN now owns 20,524 shares of the company’s stock valued at $443,000 after purchasing an additional 1,174 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in John Hancock Preferred Income Fund II by 2.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 71,168 shares of the company’s stock valued at $1,486,000 after purchasing an additional 2,006 shares during the last quarter.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II is a diversified closed-end management investment fund/investment trust company. It seeks to provide high level of current income consistent with preservation of capital by investing its assets majorly in preferred stocks and other preferred securities, including convertible preferred securities.

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