John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Shares of John Hancock Preferred Income Fund III (NYSE:HPS) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.13 and traded as high as $15.17. John Hancock Preferred Income Fund III shares last traded at $15.08, with a volume of 30,899 shares changing hands.

John Hancock Preferred Income Fund III Stock Down 0.4 %

The business’s 50 day simple moving average is $15.13 and its 200-day simple moving average is $15.64.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.32 dividend on an annualized basis and a yield of 8.75%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPS. Cetera Investment Advisers raised its position in shares of John Hancock Preferred Income Fund III by 18.8% in the 4th quarter. Cetera Investment Advisers now owns 136,659 shares of the company’s stock valued at $2,054,000 after acquiring an additional 21,649 shares during the period. Bank of America Corp DE increased its stake in John Hancock Preferred Income Fund III by 17.2% in the fourth quarter. Bank of America Corp DE now owns 88,942 shares of the company’s stock valued at $1,337,000 after purchasing an additional 13,057 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in John Hancock Preferred Income Fund III in the fourth quarter worth $325,000. Walleye Capital LLC acquired a new stake in John Hancock Preferred Income Fund III in the fourth quarter worth $272,000. Finally, Mariner LLC bought a new position in shares of John Hancock Preferred Income Fund III during the fourth quarter worth $223,000.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III 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.