John Hancock Preferred Income Fund II (NYSE:HPF) Stock Passes Above 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $16.72 and traded as high as $16.83. John Hancock Preferred Income Fund II shares last traded at $16.70, with a volume of 31,610 shares.

John Hancock Preferred Income Fund II Price Performance

The firm has a 50-day moving average price of $16.72 and a 200 day moving average price of $16.21.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be issued a $0.1235 dividend. This represents a c) dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Thursday, November 13th.

Institutional Trading of John Hancock Preferred Income Fund II

A number of institutional investors and hedge funds have recently modified their holdings of HPF. J.W. Cole Advisors Inc. bought a new position in shares of John Hancock Preferred Income Fund II in the 1st quarter worth about $1,742,000. Guggenheim Capital LLC acquired a new stake in John Hancock Preferred Income Fund II during the second quarter worth about $687,000. Readystate Asset Management LP bought a new position in John Hancock Preferred Income Fund II in the third quarter worth about $195,000. Axim Planning & Wealth lifted its holdings in John Hancock Preferred Income Fund II by 3.3% in the third quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock worth $5,608,000 after acquiring an additional 10,752 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in John Hancock Preferred Income Fund II by 5.0% in the second quarter. Invesco Ltd. now owns 159,319 shares of the company’s stock valued at $2,519,000 after acquiring an additional 7,579 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.