John Hancock Preferred Income Fund II (NYSE:HPF) Sees Large Decrease in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 8,051 shares, a drop of 37.5% from the February 12th total of 12,873 shares. Based on an average trading volume of 28,602 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 28,602 shares, the short-interest ratio is currently 0.3 days.

John Hancock Preferred Income Fund II Price Performance

Shares of NYSE:HPF traded up $0.05 during trading on Friday, hitting $15.71. 43,896 shares of the stock were exchanged, compared to its average volume of 39,120. The company has a fifty day moving average price of $16.10 and a two-hundred day moving average price of $16.35. John Hancock Preferred Income Fund II has a 12-month low of $14.56 and a 12-month high of $17.13.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) annualized dividend and a yield of 9.4%.

Institutional Trading of John Hancock Preferred Income Fund II

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the fourth quarter valued at $180,000. Readystate Asset Management LP purchased a new stake in shares of John Hancock Preferred Income Fund II in the 3rd quarter worth about $195,000. Spire Wealth Management grew its stake in John Hancock Preferred Income Fund II by 25.0% in the 3rd quarter. Spire Wealth Management now owns 12,384 shares of the company’s stock valued at $209,000 after acquiring an additional 2,478 shares during the last quarter. NewEdge Advisors LLC grew its stake in John Hancock Preferred Income Fund II by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after acquiring an additional 770 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new position in John Hancock Preferred Income Fund II during the 4th quarter valued at about $322,000.

About John Hancock Preferred Income Fund II

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.