John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Update

John Hancock Preferred Income Fund II (NYSE:HPF) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 129,686 shares, a growth of 57.0% from the May 14th total of 82,586 shares. Based on an average daily volume of 42,864 shares, the short-interest ratio is presently 3.0 days.

John Hancock Preferred Income Fund II Stock Performance

NYSE:HPF opened at $15.87 on Thursday. The stock’s fifty day moving average is $15.90 and its two-hundred day moving average is $15.98. John Hancock Preferred Income Fund II has a 52 week low of $15.06 and a 52 week high of $17.13.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.1235 per share. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC acquired a new position in John Hancock Preferred Income Fund II during the first quarter worth $66,000. Jane Street Group LLC acquired a new position in John Hancock Preferred Income Fund II during the fourth quarter worth $180,000. Readystate Asset Management LP acquired a new position in John Hancock Preferred Income Fund II during the third quarter worth $195,000. NewEdge Advisors LLC increased its position in shares of John Hancock Preferred Income Fund II by 4.0% during the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after acquiring an additional 770 shares during the period. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of John Hancock Preferred Income Fund II during the fourth quarter worth $322,000.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.