John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Shares of John Hancock Hedged Equity & Income Fund (NYSE:HEQ – Get Free Report) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $11.42 and traded as low as $10.93. John Hancock Hedged Equity & Income Fund shares last traded at $11.02, with a volume of 32,425 shares trading hands.

John Hancock Hedged Equity & Income Fund Stock Down 0.4%

The stock’s fifty day simple moving average is $11.53 and its 200-day simple moving average is $11.43.

John Hancock Hedged Equity & Income Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend was Friday, September 11th.

Institutional Trading of John Hancock Hedged Equity & Income Fund

A number of hedge funds have recently bought and sold shares of the company. Advisory Solutions Group LLC acquired a new stake in shares of John Hancock Hedged Equity & Income Fund during the 2nd quarter worth $119,000. Bank of America Corp DE boosted its holdings in John Hancock Hedged Equity & Income Fund by 4.1% in the first quarter. Bank of America Corp DE now owns 304,521 shares of the investment management company’s stock valued at $3,307,000 after acquiring an additional 11,907 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in John Hancock Hedged Equity & Income Fund during the first quarter valued at about $109,000. Fifth Third Bancorp purchased a new stake in John Hancock Hedged Equity & Income Fund during the first quarter valued at about $47,000. Finally, Bulldog Investors LLP increased its stake in John Hancock Hedged Equity & Income Fund by 46.2% during the first quarter. Bulldog Investors LLP now owns 558,291 shares of the investment management company’s stock worth $6,063,000 after acquiring an additional 176,527 shares during the last quarter.

John Hancock Hedged Equity & Income Fund Company Profile

(Get Free Report)

John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end investment company managed by John Hancock Investment Management. The fund seeks to provide a high level of current income and long-term capital appreciation by investing in a diversified portfolio of equity and income-producing securities.

The fund uses hedging strategies in an effort to manage equity-market risk and may employ options and other derivative instruments as part of its investment approach. Its portfolio may include common stocks, preferred stocks, convertible securities, corporate bonds and other debt instruments, with allocations adjusted according to market conditions and the portfolio managers’ outlook.

HEQ is designed for investors seeking exposure to both equity and fixed-income markets through a professionally managed portfolio.

Further Reading

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