John Hancock Preferred Income Fund (NYSE:HPI) Shares Cross Above 50 Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund (NYSE:HPI – Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.95 and traded as high as $15.98. John Hancock Preferred Income Fund shares last traded at $15.94, with a volume of 81,441 shares changing hands.

John Hancock Preferred Income Fund Price Performance

The stock’s 50-day simple moving average is $15.95 and its 200 day simple moving average is $16.33.

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John Hancock Preferred Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 11th will be given a $0.1235 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) dividend on an annualized basis and a yield of 9.3%.

Institutional Trading of John Hancock Preferred Income Fund

Several hedge funds have recently made changes to their positions in the business. Readystate Asset Management LP acquired a new stake in shares of John Hancock Preferred Income Fund during the first quarter worth about $203,000. Royal Bank of Canada lifted its position in shares of John Hancock Preferred Income Fund by 1.1% during the first quarter. Royal Bank of Canada now owns 254,181 shares of the company’s stock worth $3,988,000 after purchasing an additional 2,823 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of John Hancock Preferred Income Fund by 2.7% during the first quarter. Cetera Investment Advisers now owns 46,039 shares of the company’s stock worth $722,000 after purchasing an additional 1,227 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of John Hancock Preferred Income Fund by 2.3% during the first quarter. Kestra Advisory Services LLC now owns 87,939 shares of the company’s stock worth $1,380,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Quantum Portfolio Management LLC acquired a new stake in shares of John Hancock Preferred Income Fund during the first quarter worth about $894,209,000.

John Hancock Preferred Income Fund Company Profile

(Get Free Report)

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.

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