John Hancock Preferred Income Fund III (NYSE:HPS – Get Free Report) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 17,995 shares, an increase of 1,640.3% from the September 30th total of 1,034 shares. Based on an average daily trading volume, of 163,681 shares, the short-interest ratio is presently 0.1 days.
John Hancock Preferred Income Fund III Trading Down 0.3%
Shares of John Hancock Preferred Income Fund III stock traded down $0.03 on Monday, hitting $11.59. 94,901 shares of the company were exchanged, compared to its average volume of 74,478. John Hancock Preferred Income Fund III has a 1-year low of $11.39 and a 1-year high of $15.54. The company has a 50-day moving average price of $12.73 and a 200 day moving average price of $14.05.
John Hancock Preferred Income Fund III Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, October 13th will be given a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend is Tuesday, October 13th.
Institutional Trading of John Hancock Preferred Income Fund III
Hedge funds have recently modified their holdings of the stock. Shaker Financial Services LLC acquired a new position in shares of John Hancock Preferred Income Fund III during the third quarter worth approximately $1,097,000. Western Wealth Management LLC bought a new stake in shares of John Hancock Preferred Income Fund III during the 1st quarter worth about $459,000. Readystate Asset Management LP acquired a new position in shares of John Hancock Preferred Income Fund III during the second quarter valued at approximately $253,000. Fifth Third Bancorp bought a new stake in John Hancock Preferred Income Fund III during the first quarter worth approximately $92,000. Finally, Compass Financial Management LLC bought a new position in John Hancock Preferred Income Fund III during the 2nd quarter valued at $81,000.
About John Hancock Preferred Income Fund III
John Hancock Preferred Income Fund III is a closed-end investment fund listed on the New York Stock Exchange under the symbol HPS. The fund seeks to provide a high level of current income by investing primarily in preferred securities and other income-producing investments.
The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and other companies, corporate debt securities, and convertible securities. These investments can provide exposure to a range of industries and may include issuers based in the United States and other countries, subject to the fund’s investment policies.
John Hancock Preferred Income Fund III is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.
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