Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Expands By 240.1%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 30,112 shares, a growth of 240.1% from the April 15th total of 8,853 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 45,491 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of John Hancock Preferred Income ETF

A number of hedge funds have recently bought and sold shares of JHPI. Jane Street Group LLC raised its holdings in John Hancock Preferred Income ETF by 261.4% in the 1st quarter. Jane Street Group LLC now owns 35,756 shares of the company’s stock valued at $801,000 after acquiring an additional 25,861 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in John Hancock Preferred Income ETF in the 2nd quarter valued at about $452,000. Bank of America Corp DE raised its holdings in John Hancock Preferred Income ETF by 10.3% in the 2nd quarter. Bank of America Corp DE now owns 205,497 shares of the company’s stock valued at $4,633,000 after acquiring an additional 19,204 shares during the last quarter. Spire Wealth Management acquired a new stake in John Hancock Preferred Income ETF in the 3rd quarter valued at about $50,000. Finally, Beacon Financial Advisory LLC raised its holdings in John Hancock Preferred Income ETF by 1.2% in the 3rd quarter. Beacon Financial Advisory LLC now owns 37,092 shares of the company’s stock valued at $859,000 after acquiring an additional 446 shares during the last quarter.

John Hancock Preferred Income ETF Stock Down 0.4%

NYSEARCA JHPI traded down $0.09 during trading on Friday, hitting $22.89. 157,461 shares of the stock traded hands, compared to its average volume of 52,530. John Hancock Preferred Income ETF has a 12-month low of $22.12 and a 12-month high of $23.56. The firm has a 50-day simple moving average of $22.91 and a 200-day simple moving average of $23.00. The company has a market capitalization of $178.54 million, a P/E ratio of 60.41 and a beta of 0.38.

John Hancock Preferred Income ETF Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 25th were given a dividend of $0.0365 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 25th.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.