Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Declines By 23.1%

John Hancock Preferred Income Fund II (NYSE:HPF) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 27,600 shares, a drop of 23.1% from the October 15th total of 35,900 shares. Based on an average daily volume of 37,500 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of John Hancock Preferred Income Fund II

Institutional investors have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. grew its holdings in John Hancock Preferred Income Fund II by 9.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 67,813 shares of the company’s stock valued at $1,121,000 after buying an additional 5,768 shares in the last quarter. Cetera Advisors LLC purchased a new position in John Hancock Preferred Income Fund II during the 1st quarter valued at approximately $180,000. Simplicity Wealth LLC purchased a new position in John Hancock Preferred Income Fund II during the 2nd quarter valued at approximately $285,000. Axim Planning & Wealth grew its holdings in John Hancock Preferred Income Fund II by 120.3% during the 2nd quarter. Axim Planning & Wealth now owns 368,273 shares of the company’s stock valued at $6,250,000 after buying an additional 201,080 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in John Hancock Preferred Income Fund II by 5.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock valued at $1,104,000 after buying an additional 3,361 shares in the last quarter.

John Hancock Preferred Income Fund II Trading Down 1.6 %

NYSE:HPF opened at $17.39 on Friday. John Hancock Preferred Income Fund II has a 12-month low of $14.40 and a 12-month high of $19.00. The stock has a 50-day moving average price of $18.09 and a 200 day moving average price of $17.34.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 8.52%. The ex-dividend date is Tuesday, November 12th.

About John Hancock Preferred Income Fund II

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.