John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Update

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 4,500 shares, a decline of 77.0% from the March 31st total of 19,600 shares. Based on an average daily trading volume, of 44,700 shares, the short-interest ratio is presently 0.1 days.

John Hancock Preferred Income Fund Stock Performance

HPI stock traded down $0.09 during midday trading on Tuesday, reaching $15.78. The stock had a trading volume of 9,063 shares, compared to its average volume of 44,972. The firm has a fifty day simple moving average of $16.28 and a two-hundred day simple moving average of $16.99. John Hancock Preferred Income Fund has a 52-week low of $14.61 and a 52-week high of $19.43.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be issued a $0.1235 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.48 annualized dividend and a yield of 9.39%.

Institutional Trading of John Hancock Preferred Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Merit Financial Group LLC grew its stake in shares of John Hancock Preferred Income Fund by 6.7% during the 1st quarter. Merit Financial Group LLC now owns 11,218 shares of the company’s stock worth $186,000 after purchasing an additional 702 shares during the period. B. Riley Wealth Advisors Inc. grew its position in John Hancock Preferred Income Fund by 4.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 16,809 shares of the company’s stock worth $282,000 after acquiring an additional 728 shares during the period. Level Four Advisory Services LLC lifted its position in John Hancock Preferred Income Fund by 2.7% in the fourth quarter. Level Four Advisory Services LLC now owns 45,653 shares of the company’s stock valued at $759,000 after buying an additional 1,218 shares during the last quarter. WASHINGTON TRUST Co acquired a new stake in John Hancock Preferred Income Fund in the 4th quarter valued at approximately $26,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of John Hancock Preferred Income Fund in the first quarter valued at $30,000.

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.