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

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

John Hancock Preferred Income Fund Stock Performance

Shares of NYSE:HPI opened at $17.35 on Wednesday. The business has a 50-day moving average of $17.00 and a two-hundred day moving average of $17.56. John Hancock Preferred Income Fund has a 12 month low of $15.26 and a 12 month high of $19.43.

John Hancock Preferred Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Thursday, February 13th will be given a $0.1235 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.54%. The ex-dividend date is Thursday, February 13th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Several institutional investors and hedge funds have recently modified their holdings of HPI. Raymond James Financial Inc. purchased a new stake in shares of John Hancock Preferred Income Fund in the fourth quarter worth about $1,786,000. Cohen & Steers Inc. purchased a new stake in shares of John Hancock Preferred Income Fund in the fourth quarter worth about $572,000. LaSalle St. Investment Advisors LLC purchased a new stake in shares of John Hancock Preferred Income Fund in the fourth quarter worth about $441,000. Invesco Ltd. boosted its position in shares of John Hancock Preferred Income Fund by 10.6% in the fourth quarter. Invesco Ltd. now owns 193,150 shares of the company’s stock worth $3,212,000 after buying an additional 18,482 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of John Hancock Preferred Income Fund by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 260,223 shares of the company’s stock worth $4,328,000 after buying an additional 16,029 shares during the period.

About John Hancock Preferred Income Fund

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.