John Hancock Preferred Income Fund (NYSE:HPI) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund (NYSE:HPI)’s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $17.10 and traded as low as $16.49. John Hancock Preferred Income Fund shares last traded at $16.50, with a volume of 46,288 shares changing hands.

John Hancock Preferred Income Fund Stock Performance

The company has a 50-day moving average of $17.10 and a two-hundred day moving average of $16.53.

John Hancock Preferred Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.1235 per share. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Thursday, December 11th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP boosted its holdings in shares of John Hancock Preferred Income Fund by 47.7% in the 3rd quarter. Allworth Financial LP now owns 6,260 shares of the company’s stock valued at $109,000 after purchasing an additional 2,023 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of John Hancock Preferred Income Fund by 3.7% in the 3rd quarter. NewEdge Advisors LLC now owns 20,851 shares of the company’s stock worth $362,000 after buying an additional 742 shares during the period. Mariner LLC boosted its holdings in John Hancock Preferred Income Fund by 28.7% in the third quarter. Mariner LLC now owns 52,542 shares of the company’s stock valued at $912,000 after acquiring an additional 11,713 shares during the last quarter. Raymond James Financial Inc. grew its position in John Hancock Preferred Income Fund by 3.0% during the third quarter. Raymond James Financial Inc. now owns 121,657 shares of the company’s stock valued at $2,111,000 after acquiring an additional 3,557 shares during the period. Finally, Arlington Capital Management Inc. acquired a new stake in John Hancock Preferred Income Fund during the third quarter worth about $219,000.

John Hancock Preferred Income Fund Company Profile

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.