John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Significant Growth in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 36,169 shares, an increase of 186.9% from the March 15th total of 12,609 shares. Based on an average daily trading volume, of 28,081 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the company’s stock are short sold.

Institutional Investors Weigh In On John Hancock Preferred Income ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in John Hancock Preferred Income ETF by 109.7% in the second quarter. Osaic Holdings Inc. now owns 59,760 shares of the company’s stock worth $1,347,000 after buying an additional 31,264 shares during the last quarter. Uniting Wealth Partners LLC acquired a new stake in John Hancock Preferred Income ETF in the third quarter valued at approximately $2,669,000. Burk Holdings LLC bought a new stake in John Hancock Preferred Income ETF in the third quarter worth approximately $2,846,000. Granite Bay Wealth Management LLC grew its position in John Hancock Preferred Income ETF by 9.4% in the third quarter. Granite Bay Wealth Management LLC now owns 706,638 shares of the company’s stock worth $16,373,000 after acquiring an additional 60,486 shares in the last quarter. Finally, Robbins Farley increased its stake in shares of John Hancock Preferred Income ETF by 20.2% during the 3rd quarter. Robbins Farley now owns 145,349 shares of the company’s stock worth $3,368,000 after purchasing an additional 24,466 shares during the last quarter.

John Hancock Preferred Income ETF Stock Up 0.2%

Shares of John Hancock Preferred Income ETF stock traded up $0.04 on Monday, hitting $22.99. 22,213 shares of the company traded hands, compared to its average volume of 50,652. John Hancock Preferred Income ETF has a 12-month low of $21.81 and a 12-month high of $23.56. The company has a market cap of $169.67 million, a PE ratio of 60.41 and a beta of 0.40. The company has a 50-day moving average price of $22.98 and a 200 day moving average price of $23.03.

John Hancock Preferred Income ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 25th were paid a $0.0365 dividend. The ex-dividend date was Wednesday, February 25th. This represents a c) dividend on an annualized basis and a yield of 1.9%.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.