John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Down 78.8% in January

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a large drop in short interest in January. As of January 15th, there was short interest totaling 29,962 shares, a drop of 78.8% from the December 31st total of 141,437 shares. Based on an average trading volume of 60,008 shares, the short-interest ratio is presently 0.5 days. Based on an average trading volume of 60,008 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Huntington National Bank acquired a new position in John Hancock Preferred Income Fund during the 3rd quarter worth $35,000. Allworth Financial LP increased its stake in shares of John Hancock Preferred Income Fund by 181.9% in the second quarter. Allworth Financial LP now owns 4,237 shares of the company’s stock worth $68,000 after purchasing an additional 2,734 shares during the period. Fifth Third Bancorp acquired a new position in shares of John Hancock Preferred Income Fund during the 2nd quarter worth about $69,000. Wolverine Asset Management LLC bought a new stake in John Hancock Preferred Income Fund during the 2nd quarter valued at approximately $172,000. Finally, Arlington Capital Management Inc. bought a new stake in John Hancock Preferred Income Fund during the 3rd quarter valued at approximately $219,000.

John Hancock Preferred Income Fund Stock Down 0.2%

John Hancock Preferred Income Fund stock traded down $0.03 during trading hours on Wednesday, reaching $16.23. 38,680 shares of the company were exchanged, compared to its average volume of 53,804. The stock has a 50-day moving average of $16.49 and a 200 day moving average of $16.61. John Hancock Preferred Income Fund has a 12 month low of $14.61 and a 12 month high of $17.78.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, December 29th will be issued a dividend of $0.1235 per share. This represents a c) annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Monday, December 29th.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.