John Hancock Preferred Income Fund III (NYSE:HPS) Shares Cross Below 50 Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund III (NYSE:HPS) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.49 and traded as low as $14.30. John Hancock Preferred Income Fund III shares last traded at $14.38, with a volume of 56,267 shares traded.

John Hancock Preferred Income Fund III Stock Performance

The stock’s 50-day simple moving average is $14.49 and its two-hundred day simple moving average is $14.52.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

Institutional Trading of John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPS. UBS Group AG lifted its stake in John Hancock Preferred Income Fund III by 10.8% in the third quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock worth $17,626,000 after purchasing an additional 111,560 shares during the last quarter. Invesco Ltd. boosted its position in shares of 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 buying an additional 32,293 shares during the period. Western Wealth Management LLC bought a new position in shares of John Hancock Preferred Income Fund III during the first quarter valued at approximately $459,000. Readystate Asset Management LP bought a new position in shares of John Hancock Preferred Income Fund III during the fourth quarter valued at approximately $419,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of John Hancock Preferred Income Fund III in the second quarter worth approximately $395,000.

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.