Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Rises By 45.6%

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 16,507 shares, a growth of 45.6% from the January 15th total of 11,335 shares. Based on an average daily trading volume, of 38,567 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 38,567 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC acquired a new stake in shares of John Hancock Preferred Income Fund II during the second quarter worth about $112,000. Jane Street Group LLC purchased a new position in John Hancock Preferred Income Fund II during the 4th quarter worth approximately $180,000. Readystate Asset Management LP acquired a new position in John Hancock Preferred Income Fund II during the third quarter worth approximately $195,000. Spire Wealth Management lifted its stake in John Hancock Preferred Income Fund II by 25.0% in the third quarter. Spire Wealth Management now owns 12,384 shares of the company’s stock valued at $209,000 after buying an additional 2,478 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its stake in John Hancock Preferred Income Fund II by 12.7% in the second quarter. Atria Wealth Solutions Inc. now owns 18,947 shares of the company’s stock valued at $301,000 after buying an additional 2,140 shares during the last quarter.

John Hancock Preferred Income Fund II Price Performance

Shares of NYSE HPF opened at $16.13 on Tuesday. The stock’s 50-day simple moving average is $16.12 and its 200-day simple moving average is $16.36. John Hancock Preferred Income Fund II has a fifty-two week low of $14.56 and a fifty-two week high of $17.57.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be issued a $0.1235 dividend. The ex-dividend date is Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 9.2%.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.