John Hancock Preferred Income Fund II (NYSE:HPF) Shares Pass Above Fifty Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $15.88 and traded as high as $16.00. John Hancock Preferred Income Fund II shares last traded at $15.9650, with a volume of 31,130 shares.

John Hancock Preferred Income Fund II Trading Up 0.2%

The company has a fifty day moving average price of $15.88 and a 200-day moving average price of $15.91.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be given a $0.1235 dividend. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Thursday, August 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors have recently bought and sold shares of HPF. NewEdge Advisors LLC boosted its stake in shares of John Hancock Preferred Income Fund II by 4.0% during the 2nd 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 period. Raymond James Financial Inc. raised its position in John Hancock Preferred Income Fund II by 6.7% in the 2nd 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 period. J.W. Cole Advisors Inc. lifted its stake in John Hancock Preferred Income Fund II by 1.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock worth $2,313,000 after purchasing an additional 1,463 shares during the last quarter. Wedbush Securities Inc. lifted its stake in John Hancock Preferred Income Fund II by 6.4% in the fourth quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock worth $404,000 after purchasing an additional 1,512 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in John Hancock Preferred Income Fund II by 7.3% in the fourth quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock worth $488,000 after purchasing an additional 2,078 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.