John Hancock Preferred Income Fund (NYSE:HPI) Sees Large Growth in Short Interest

John Hancock Preferred Income Fund (NYSE:HPI) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 17,800 shares, an increase of 9.9% from the December 15th total of 16,200 shares. Based on an average daily volume of 48,700 shares, the days-to-cover ratio is presently 0.4 days.

John Hancock Preferred Income Fund Price Performance

Shares of NYSE HPI traded down $0.08 during mid-day trading on Monday, hitting $17.17. The company had a trading volume of 25,616 shares, compared to its average volume of 52,420. John Hancock Preferred Income Fund has a 1 year low of $15.26 and a 1 year high of $19.43. The stock’s 50-day moving average price is $17.06 and its 200-day moving average price is $17.51.

John Hancock Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.1235 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.63%. The ex-dividend date of this dividend is Monday, December 30th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several hedge funds have recently made changes to their positions in the stock. Fiera Capital Corp grew its position in shares of John Hancock Preferred Income Fund by 1.5% in the third quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after purchasing an additional 1,170 shares in the last quarter. SAM Advisors LLC grew its position in John Hancock Preferred Income Fund by 3.4% during the third quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock worth $510,000 after buying an additional 886 shares in the last quarter. Merit Financial Group LLC purchased a new position in John Hancock Preferred Income Fund during the fourth quarter worth about $175,000. Finally, US Bancorp DE purchased a new position in John Hancock Preferred Income Fund during the third quarter worth about $95,000.

About John Hancock Preferred Income Fund

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