John Hancock Preferred Income Fund (NYSE:HPI) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of John Hancock Preferred Income Fund (NYSE:HPI – Get Free Report) crossed 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 $16.36. John Hancock Preferred Income Fund shares last traded at $16.2450, with a volume of 84,213 shares trading hands.

John Hancock Preferred Income Fund Trading Down 0.4%

The firm’s 50 day moving average is $15.95 and its 200 day moving average is $16.40.

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John Hancock Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 11th will be paid a dividend of $0.1235 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) annualized dividend and a yield of 9.1%.

Institutional Trading of John Hancock Preferred Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TSP Capital Management Group LLC lifted its stake in John Hancock Preferred Income Fund by 55.9% during the first quarter. TSP Capital Management Group LLC now owns 201,710 shares of the company’s stock valued at $3,165,000 after purchasing an additional 72,350 shares during the last quarter. Fiera Capital Corp lifted its stake in John Hancock Preferred Income Fund by 18.3% during the fourth quarter. Fiera Capital Corp now owns 103,315 shares of the company’s stock valued at $1,673,000 after purchasing an additional 15,979 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in John Hancock Preferred Income Fund by 13.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 136,169 shares of the company’s stock valued at $2,205,000 after purchasing an additional 16,509 shares during the last quarter. UBS Group AG lifted its stake in John Hancock Preferred Income Fund by 1.8% during the fourth quarter. UBS Group AG now owns 638,679 shares of the company’s stock valued at $10,340,000 after purchasing an additional 11,212 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in John Hancock Preferred Income Fund by 6.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 27,565 shares of the company’s stock valued at $446,000 after purchasing an additional 1,700 shares during the last quarter.

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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