John Hancock Preferred Income Fund (NYSE:HPI) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

Shares of John Hancock Preferred Income Fund (NYSE:HPI) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $16.55 and traded as low as $16.13. John Hancock Preferred Income Fund shares last traded at $16.2350, with a volume of 58,775 shares traded.

John Hancock Preferred Income Fund Stock Performance

The business has a 50 day moving average of $16.55 and a 200 day moving average of $16.61.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, December 29th will be issued a $0.1235 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

Several institutional investors have recently bought and sold shares of the business. SAM Advisors LLC lifted its holdings in shares of John Hancock Preferred Income Fund by 13.3% in the 3rd quarter. SAM Advisors LLC now owns 33,017 shares of the company’s stock valued at $573,000 after acquiring an additional 3,865 shares during the last quarter. TSP Capital Management Group LLC lifted its stake in shares of John Hancock Preferred Income Fund by 1.7% in the 3rd quarter. TSP Capital Management Group LLC now owns 131,360 shares of the company’s stock valued at $2,279,000 after purchasing an additional 2,250 shares during the last quarter. Mallini Complete Financial Planning LLC boosted its holdings in shares of John Hancock Preferred Income Fund by 4.1% in the 3rd quarter. Mallini Complete Financial Planning LLC now owns 17,669 shares of the company’s stock worth $307,000 after purchasing an additional 689 shares during the period. Halbert Hargrove Global Advisors LLC increased its position in shares of John Hancock Preferred Income Fund by 71.6% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 13,248 shares of the company’s stock valued at $230,000 after purchasing an additional 5,528 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in John Hancock Preferred Income Fund by 37.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 96,866 shares of the company’s stock valued at $1,549,000 after buying an additional 26,571 shares during the period.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.