John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.88 and traded as low as $15.71. John Hancock Preferred Income Fund II shares last traded at $15.7540, with a volume of 40,717 shares traded.

John Hancock Preferred Income Fund II Stock Performance

The firm’s 50-day moving average is $15.88 and its 200 day moving average is $15.99.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be given a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a c) annualized dividend and a yield of 9.4%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors and hedge funds have recently bought and sold shares of HPF. Royal Bank of Canada increased its position in John Hancock Preferred Income Fund II by 31.3% during the first quarter. Royal Bank of Canada now owns 31,237 shares of the company’s stock worth $519,000 after purchasing an additional 7,449 shares during the last quarter. Invesco Ltd. increased its position in John Hancock Preferred Income Fund II by 5.0% during the second quarter. Invesco Ltd. now owns 159,319 shares of the company’s stock worth $2,519,000 after purchasing an additional 7,579 shares during the last quarter. Guggenheim Capital LLC acquired a new position in John Hancock Preferred Income Fund II during the second quarter worth approximately $687,000. NewEdge Advisors LLC increased its position in John Hancock Preferred Income Fund II by 4.0% during the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after purchasing an additional 770 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in John Hancock Preferred Income Fund II by 6.7% during the second quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock worth $328,000 after purchasing an additional 1,299 shares during the last quarter.

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.