Short Interest in John Hancock Preferred Income Fund (NYSE:HPI) Decreases By 9.4%

John Hancock Preferred Income Fund (NYSE:HPI) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 81,300 shares, a drop of 9.4% from the January 15th total of 89,700 shares. Based on an average daily trading volume, of 48,500 shares, the days-to-cover ratio is presently 1.7 days.

John Hancock Preferred Income Fund Stock Down 0.1 %

NYSE:HPI opened at $17.54 on Tuesday. The stock’s 50-day simple moving average is $17.00 and its 200 day simple moving average is $17.56. John Hancock Preferred Income Fund has a twelve month low of $15.26 and a twelve month high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be given a $0.1235 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.48 annualized dividend and a yield of 8.45%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Hedge funds have recently made changes to their positions in the stock. WASHINGTON TRUST Co bought a new position in shares of John Hancock Preferred Income Fund during the fourth quarter worth about $26,000. Tandem Financial LLC purchased a new position in shares of John Hancock Preferred Income Fund during the fourth quarter valued at approximately $40,000. Wolverine Asset Management LLC purchased a new position in John Hancock Preferred Income Fund in the fourth quarter worth $44,000. US Bancorp DE purchased a new position in John Hancock Preferred Income Fund in the third quarter worth $95,000. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in John Hancock Preferred Income Fund in the fourth quarter worth $127,000.

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.