John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $14.47 and traded as high as $14.49. John Hancock Preferred Income Fund III shares last traded at $14.41, with a volume of 17,780 shares trading hands.

John Hancock Preferred Income Fund III Stock Performance

The business’s 50-day simple moving average is $14.46 and its 200 day simple moving average is $14.63.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 11th will be given a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Monday, May 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG grew its position in John Hancock Preferred Income Fund III by 2.8% during the fourth quarter. UBS Group AG now owns 1,173,288 shares of the company’s stock valued at $16,907,000 after acquiring an additional 31,695 shares during the last quarter. LPL Financial LLC grew its position in John Hancock Preferred Income Fund III by 0.7% during the fourth quarter. LPL Financial LLC now owns 296,324 shares of the company’s stock valued at $4,270,000 after acquiring an additional 2,126 shares during the last quarter. Invesco Ltd. grew its position in John Hancock Preferred Income Fund III by 13.7% during the third quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock valued at $4,142,000 after acquiring an additional 32,293 shares during the last quarter. Royal Bank of Canada grew its position in John Hancock Preferred Income Fund III by 2.1% during the first quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after acquiring an additional 3,323 shares during the last quarter. Finally, Bank of America Corp DE grew its position in John Hancock Preferred Income Fund III by 0.6% during the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after acquiring an additional 898 shares during the last quarter.

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.