Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Increases By 25.2%

John Hancock Preferred Income Fund III (NYSE:HPS) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 118,024 shares, an increase of 25.2% from the February 26th total of 94,284 shares. Based on an average daily volume of 49,670 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several hedge funds and other institutional investors have recently made changes to their positions in HPS. Albion Financial Group UT acquired a new position in shares of John Hancock Preferred Income Fund III during the 3rd quarter worth about $1,072,000. Cetera Investment Advisers grew its holdings in John Hancock Preferred Income Fund III by 3.1% in the 2nd quarter. Cetera Investment Advisers now owns 140,155 shares of the company’s stock valued at $1,999,000 after buying an additional 4,194 shares during the last quarter. Guggenheim Capital LLC increased its position in John Hancock Preferred Income Fund III by 55.8% in the 2nd quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock worth $2,500,000 after buying an additional 62,819 shares during the period. Readystate Asset Management LP bought a new position in John Hancock Preferred Income Fund III in the 4th quarter worth approximately $419,000. Finally, Balyasny Asset Management L.P. bought a new position in John Hancock Preferred Income Fund III in the 2nd quarter worth approximately $395,000.

John Hancock Preferred Income Fund III Price Performance

Shares of NYSE HPS traded down $0.09 during trading hours on Monday, hitting $13.83. 73,532 shares of the stock were exchanged, compared to its average volume of 60,219. John Hancock Preferred Income Fund III has a one year low of $13.08 and a one year high of $15.68. The company’s 50 day moving average is $14.58 and its 200 day moving average is $14.85.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Thursday, March 12th.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.