John Hancock Preferred Income Fund III (HPS) to Issue Monthly Dividend of $0.11 on June 30th

John Hancock Preferred Income Fund III (NYSE:HPS) declared a monthly dividend on Monday, June 1st. Stockholders of record on Thursday, June 11th will be paid a dividend of 0.11 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Thursday, June 11th.

John Hancock Preferred Income Fund III Stock Performance

John Hancock Preferred Income Fund III stock opened at $14.52 on Wednesday. John Hancock Preferred Income Fund III has a one year low of $13.80 and a one year high of $15.68. The company has a 50-day simple moving average of $14.47 and a 200-day simple moving average of $14.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HPS. PNC Financial Services Group Inc. raised its holdings in shares of John Hancock Preferred Income Fund III by 2,816.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,071 shares of the company’s stock valued at $30,000 after buying an additional 2,000 shares during the last quarter. Fifth Third Bancorp bought a new position in John Hancock Preferred Income Fund III in the 1st quarter worth approximately $92,000. Kestra Advisory Services LLC bought a new position in John Hancock Preferred Income Fund III in the 4th quarter worth approximately $92,000. Cherry Creek Investment Advisors Inc. acquired a new stake in John Hancock Preferred Income Fund III in the 4th quarter valued at approximately $144,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in John Hancock Preferred Income Fund III in the 3rd quarter valued at approximately $159,000.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.