John Hancock Preferred Income Fund (NYSE:HPI) Stock Crosses Below 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund (NYSE:HPI) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $16.36 and traded as low as $16.27. John Hancock Preferred Income Fund shares last traded at $16.31, with a volume of 44,633 shares trading hands.

John Hancock Preferred Income Fund Trading Up 0.5%

The firm’s 50-day simple moving average is $16.36 and its two-hundred day simple moving average is $16.63.

John Hancock Preferred Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be paid a $0.1235 dividend. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Thursday, February 12th.

Institutional Trading of John Hancock Preferred Income Fund

Large investors have recently bought and sold shares of the company. LPL Financial LLC increased its position in shares of John Hancock Preferred Income Fund by 0.4% in the fourth quarter. LPL Financial LLC now owns 188,028 shares of the company’s stock valued at $3,044,000 after buying an additional 782 shares in the last quarter. Fiera Capital Corp grew its stake in John Hancock Preferred Income Fund by 18.3% in the 4th quarter. Fiera Capital Corp now owns 103,315 shares of the company’s stock valued at $1,673,000 after acquiring an additional 15,979 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in John Hancock Preferred Income Fund by 13.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 136,169 shares of the company’s stock valued at $2,205,000 after acquiring an additional 16,509 shares in the last quarter. UBS Group AG increased its holdings in John Hancock Preferred Income Fund by 1.8% during the 4th quarter. UBS Group AG now owns 638,679 shares of the company’s stock valued at $10,340,000 after acquiring an additional 11,212 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in John Hancock Preferred Income Fund by 6.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 27,565 shares of the company’s stock worth $446,000 after acquiring an additional 1,700 shares during the last quarter.

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.