John Hancock Preferred Income Fund III (NYSE:HPS) Sees Significant Growth in Short Interest

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 43,833 shares, a growth of 322.8% from the January 15th total of 10,367 shares. Based on an average daily trading volume, of 58,417 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 58,417 shares, the short-interest ratio is presently 0.8 days.

John Hancock Preferred Income Fund III Trading Up 0.2%

HPS traded up $0.03 during trading hours on Wednesday, hitting $14.82. The stock had a trading volume of 29,337 shares, compared to its average volume of 63,923. The company’s fifty day simple moving average is $14.54 and its 200 day simple moving average is $14.88. John Hancock Preferred Income Fund III has a 1 year low of $13.08 and a 1 year high of $15.68.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 12th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) annualized dividend and a dividend yield of 8.9%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several hedge funds have recently made changes to their positions in HPS. UBS Group AG grew its position in John Hancock Preferred Income Fund III by 10.8% during the third quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock valued at $17,626,000 after acquiring an additional 111,560 shares during the last quarter. Albion Financial Group UT purchased a new stake in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at $1,072,000. Guggenheim Capital LLC grew its holdings in shares of John Hancock Preferred Income Fund III by 55.8% during the 2nd quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock valued at $2,500,000 after purchasing an additional 62,819 shares during the last quarter. Invesco Ltd. raised its position in John Hancock Preferred Income Fund III by 13.7% in the 3rd quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock worth $4,142,000 after purchasing an additional 32,293 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in John Hancock Preferred Income Fund III in the second quarter worth $395,000.

John Hancock Preferred Income Fund III Company Profile

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.