John Hancock Preferred Income Fund III (NYSE:HPS) Sees Large Growth in Short Interest

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 131,300 shares, a growth of 41.8% from the September 15th total of 92,600 shares. Based on an average trading volume of 78,300 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 78,300 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of John Hancock Preferred Income Fund III

Several institutional investors have recently added to or reduced their stakes in HPS. Ameritas Advisory Services LLC bought a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at $52,000. Wolverine Asset Management LLC bought a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at $59,000. Fifth Third Bancorp bought a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at $72,000. Focus Financial Network Inc. boosted its stake in John Hancock Preferred Income Fund III by 10.9% in the 2nd quarter. Focus Financial Network Inc. now owns 11,398 shares of the company’s stock valued at $163,000 after purchasing an additional 1,116 shares during the period. Finally, Cresset Asset Management LLC bought a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at $189,000.

John Hancock Preferred Income Fund III Stock Performance

HPS opened at $15.44 on Friday. The business has a fifty day simple moving average of $15.18 and a 200 day simple moving average of $14.59. John Hancock Preferred Income Fund III has a 1 year low of $13.08 and a 1 year high of $16.45.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be paid a $0.11 dividend. The ex-dividend date is Tuesday, October 14th. This represents a c) annualized dividend and a yield of 8.6%.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III 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.