John Hancock Preferred Income Fund III (NYSE:HPS) Stock Passes Below Fifty Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund III (NYSE:HPS – Get Free Report) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $14.44 and traded as low as $14.33. John Hancock Preferred Income Fund III shares last traded at $14.35, with a volume of 35,036 shares changing hands.

John Hancock Preferred Income Fund III Stock Down 0.3%

The business has a fifty day moving average of $14.44 and a two-hundred day moving average of $14.52.

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John Hancock Preferred Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be paid a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of John Hancock Preferred Income Fund III by 3.4% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock worth $368,000 after buying an additional 844 shares during the period. Bank of America Corp DE raised its holdings in shares of John Hancock Preferred Income Fund III by 0.6% in the 3rd quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after buying an additional 898 shares during the period. Focus Financial Network Inc. raised its holdings in shares of John Hancock Preferred Income Fund III by 8.5% in the 4th quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock valued at $183,000 after buying an additional 1,000 shares during the period. HighTower Advisors LLC lifted its stake in John Hancock Preferred Income Fund III by 6.7% during the 4th quarter. HighTower Advisors LLC now owns 22,666 shares of the company’s stock worth $327,000 after acquiring an additional 1,433 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in John Hancock Preferred Income Fund III by 9.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock worth $316,000 after acquiring an additional 1,987 shares in the last quarter.

About John Hancock Preferred Income Fund III

(Get Free Report)

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.

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