John Hancock Preferred Income Fund III (NYSE:HPS) Stock Short Interest Drops 77.3%

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 40,637 shares, a decline of 77.3% from the August 31st total of 178,726 shares. Based on an average daily trading volume, of 103,203 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of John Hancock Preferred Income Fund III by 2.1% during the 1st 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 in the last quarter. Fiera Capital Corp raised its position 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 worth $1,665,000 after purchasing an additional 17,726 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in 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 during the period. Western Wealth Management LLC bought a new position in John Hancock Preferred Income Fund III during the first quarter worth about $459,000. Finally, Arkfeld Wealth Strategies L.L.C. boosted its holdings in John Hancock Preferred Income Fund III by 3.4% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock valued at $368,000 after purchasing an additional 844 shares in the last quarter.

John Hancock Preferred Income Fund III Stock Up 0.4%

Shares of HPS traded up $0.04 during mid-day trading on Friday, hitting $12.39. The company’s stock had a trading volume of 65,977 shares, compared to its average volume of 63,963. John Hancock Preferred Income Fund III has a one year low of $12.04 and a one year high of $15.68. The stock’s 50-day moving average is $13.76 and its two-hundred day moving average is $14.21.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 10.6%. The ex-dividend date is Friday, September 11th.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a publicly traded closed-end fund listed on the New York Stock Exchange under the symbol HPS. The fund is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.

The fund’s primary objective is to provide a high level of current income. It invests mainly in preferred securities issued by companies in the financial, utility, telecommunications and other industries, while also investing in other income-producing securities when appropriate.