John Hancock Preferred Income Fund (NYSE:HPI) Sees Significant Growth in Short Interest

John Hancock Preferred Income Fund (NYSE:HPI) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 65,300 shares, an increase of 11.2% from the August 31st total of 58,700 shares. Based on an average trading volume of 46,700 shares, the short-interest ratio is currently 1.4 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. grew its position in John Hancock Preferred Income Fund by 8.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 18,451 shares of the company’s stock worth $293,000 after buying an additional 1,391 shares in the last quarter. CWM LLC acquired a new stake in shares of John Hancock Preferred Income Fund during the 1st quarter worth $58,000. Commonwealth Equity Services LLC increased its position in shares of John Hancock Preferred Income Fund by 9.8% in the first quarter. Commonwealth Equity Services LLC now owns 274,852 shares of the company’s stock worth $4,571,000 after purchasing an additional 24,559 shares during the period. TSP Capital Management Group LLC raised its stake in John Hancock Preferred Income Fund by 10.5% in the first quarter. TSP Capital Management Group LLC now owns 125,465 shares of the company’s stock valued at $2,086,000 after purchasing an additional 11,950 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in John Hancock Preferred Income Fund by 10.5% during the first quarter. Private Advisor Group LLC now owns 21,964 shares of the company’s stock worth $365,000 after purchasing an additional 2,086 shares during the period.

John Hancock Preferred Income Fund Stock Performance

HPI traded up $0.17 during trading on Friday, hitting $18.45. The stock had a trading volume of 42,392 shares, compared to its average volume of 53,077. The company has a 50 day moving average price of $17.51 and a 200-day moving average price of $16.89. John Hancock Preferred Income Fund has a one year low of $12.85 and a one year high of $18.73.

John Hancock Preferred Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.1235 dividend. The ex-dividend date of this dividend is Friday, September 13th. This is an increase from John Hancock Preferred Income Fund’s previous monthly dividend of $0.12. This represents a $1.48 annualized dividend and a dividend yield of 8.03%.

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.