Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Decreases By 55.1%

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 10,367 shares, a drop of 55.1% from the December 31st total of 23,092 shares. Based on an average daily volume of 73,260 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 73,260 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC acquired a new stake in John Hancock Preferred Income Fund III during the second quarter worth about $52,000. Wolverine Asset Management LLC purchased a new stake in John Hancock Preferred Income Fund III in the 2nd quarter worth approximately $59,000. Fifth Third Bancorp acquired a new stake in shares of John Hancock Preferred Income Fund III during the 2nd quarter worth approximately $72,000. Cherry Creek Investment Advisors Inc. purchased a new position in shares of John Hancock Preferred Income Fund III during the 4th quarter valued at approximately $144,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at $159,000.

John Hancock Preferred Income Fund III Price Performance

NYSE HPS traded up $0.04 during trading hours on Thursday, reaching $14.62. The stock had a trading volume of 87,338 shares, compared to its average volume of 64,113. John Hancock Preferred Income Fund III has a 52-week low of $13.08 and a 52-week high of $15.68. The stock has a fifty day moving average of $14.58 and a 200 day moving average of $14.84.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 12th will be given a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend is Monday, January 12th.

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.