John Hancock Preferred Income Fund III (NYSE:HPS) Shares Cross Above 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.07 and traded as high as $15.08. John Hancock Preferred Income Fund III shares last traded at $15.05, with a volume of 29,423 shares changing hands.

John Hancock Preferred Income Fund III Stock Performance

The business’s 50-day simple moving average is $15.07 and its 200 day simple moving average is $15.68.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.77%.

Institutional Trading of John Hancock Preferred Income Fund III

Several institutional investors have recently modified their holdings of HPS. Wedbush Securities Inc. raised its holdings in shares of John Hancock Preferred Income Fund III by 6.3% in the 4th quarter. Wedbush Securities Inc. now owns 24,210 shares of the company’s stock worth $364,000 after purchasing an additional 1,428 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of John Hancock Preferred Income Fund III in the third quarter valued at $34,000. BankPlus Trust Department acquired a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter valued at $38,000. Fifth Third Bancorp bought a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter worth $41,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter worth $176,000.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.