John Hancock Preferred Income Fund III (NYSE:HPS – Get Free Report) announced a monthly dividend on Friday, May 1st. Shareholders of record on Monday, May 11th will be given a dividend of 0.11 per share on Friday, May 29th. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Monday, May 11th.
John Hancock Preferred Income Fund III Stock Up 0.6%
John Hancock Preferred Income Fund III stock traded up $0.09 during trading hours on Friday, hitting $14.92. 41,682 shares of the stock traded hands, compared to its average volume of 60,123. The firm’s 50 day moving average price is $14.49 and its 200-day moving average price is $14.68. John Hancock Preferred Income Fund III has a 1 year low of $13.80 and a 1 year high of $15.68.
Institutional Investors Weigh In On John Hancock Preferred Income Fund III
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HPS. Janney Montgomery Scott LLC raised its stake in John Hancock Preferred Income Fund III by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock valued at $316,000 after buying an additional 1,987 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. raised its stake in John Hancock Preferred Income Fund III by 3.4% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock valued at $368,000 after buying an additional 844 shares in the last quarter. Fiera Capital Corp raised its stake in John Hancock Preferred Income Fund III by 18.1% in the fourth quarter. Fiera Capital Corp now owns 115,546 shares of the company’s stock valued at $1,665,000 after buying an additional 17,726 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of John Hancock Preferred Income Fund III by 10.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 60,647 shares of the company’s stock worth $874,000 after purchasing an additional 5,770 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of John Hancock Preferred Income Fund III by 2,816.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,071 shares of the company’s stock worth $30,000 after purchasing an additional 2,000 shares in the last quarter.
About John Hancock Preferred Income Fund III
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.
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