John Hancock Preferred Income Fund (NYSE:HPI) Shares Pass Below 50 Day Moving Average – Here’s Why

John Hancock Preferred Income Fund (NYSE:HPI) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.31 and traded as low as $16.53. John Hancock Preferred Income Fund shares last traded at $16.78, with a volume of 83,937 shares.

John Hancock Preferred Income Fund Trading Up 0.9 %

The firm’s 50-day moving average is $17.31 and its 200-day moving average is $17.49.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be paid a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Monday, December 30th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE bought a new stake in John Hancock Preferred Income Fund during the third quarter valued at about $95,000. Wedbush Securities Inc. grew its stake in shares of John Hancock Preferred Income Fund by 5.3% during the 2nd quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock valued at $199,000 after acquiring an additional 600 shares during the period. SAM Advisors LLC increased its holdings in John Hancock Preferred Income Fund by 3.4% in the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock worth $510,000 after acquiring an additional 886 shares in the last quarter. Raymond James & Associates raised its stake in John Hancock Preferred Income Fund by 1.7% during the 2nd quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock worth $1,338,000 after acquiring an additional 1,351 shares during the period. Finally, Fiera Capital Corp lifted its holdings in John Hancock Preferred Income Fund by 1.5% during the third quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after purchasing an additional 1,170 shares in the last quarter.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.