Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Drops By 18.6%

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 40,320 shares, a drop of 18.6% from the March 31st total of 49,547 shares. Based on an average daily volume of 34,292 shares, the days-to-cover ratio is currently 1.2 days.

John Hancock Preferred Income Fund II Price Performance

NYSE HPF traded down $0.01 on Friday, hitting $16.07. 22,317 shares of the company were exchanged, compared to its average volume of 38,110. The company’s 50 day moving average price is $15.79 and its 200-day moving average price is $16.12. John Hancock Preferred Income Fund II has a twelve month low of $15.06 and a twelve month high of $17.13.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 13th were issued a dividend of $0.1235 per share. The ex-dividend date was Monday, April 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG raised its stake in John Hancock Preferred Income Fund II by 6.4% during the 4th quarter. UBS Group AG now owns 361,631 shares of the company’s stock valued at $5,811,000 after purchasing an additional 21,636 shares during the period. Axim Planning & Wealth boosted its position in shares of John Hancock Preferred Income Fund II by 3.3% in the third quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock worth $5,608,000 after buying an additional 10,752 shares during the period. Guggenheim Capital LLC boosted its position in shares of John Hancock Preferred Income Fund II by 73.1% in the fourth quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after buying an additional 102,627 shares during the period. Invesco Ltd. boosted its position in shares of John Hancock Preferred Income Fund II by 14.8% in the third quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock worth $3,083,000 after buying an additional 23,622 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of John Hancock Preferred Income Fund II by 1.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after buying an additional 1,463 shares in the last quarter.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.