Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Drops By 39.8%

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 14,700 shares, a decrease of 39.8% from the January 15th total of 24,400 shares. Based on an average daily volume of 43,700 shares, the short-interest ratio is presently 0.3 days.

John Hancock Preferred Income Fund II Trading Down 0.6 %

Shares of NYSE:HPF opened at $17.40 on Friday. John Hancock Preferred Income Fund II has a 12 month low of $15.39 and a 12 month high of $19.00. The firm’s 50-day moving average is $16.73 and its 200 day moving average is $17.28.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.48 annualized dividend and a yield of 8.52%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in John Hancock Preferred Income Fund II by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 141,507 shares of the company’s stock worth $2,639,000 after acquiring an additional 1,465 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in John Hancock Preferred Income Fund II in the 3rd quarter worth about $33,000. Cornerstone Advisors LLC bought a new position in John Hancock Preferred Income Fund II in the 3rd quarter worth about $69,000. LPL Financial LLC grew its stake in John Hancock Preferred Income Fund II by 10.9% in the 4th quarter. LPL Financial LLC now owns 43,680 shares of the company’s stock worth $723,000 after acquiring an additional 4,290 shares in the last quarter. Finally, Invesco Ltd. grew its stake in John Hancock Preferred Income Fund II by 7.5% in the 4th quarter. Invesco Ltd. now owns 155,210 shares of the company’s stock worth $2,569,000 after acquiring an additional 10,847 shares in the last quarter.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.