John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund II (NYSE:HPF)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.77 and traded as high as $15.85. John Hancock Preferred Income Fund II shares last traded at $15.70, with a volume of 38,700 shares changing hands.

John Hancock Preferred Income Fund II Price Performance

The business has a fifty day simple moving average of $15.77 and a 200 day simple moving average of $16.07.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 11th will be issued a $0.1235 dividend. The ex-dividend date is Monday, May 11th. This represents a c) annualized dividend and a yield of 9.4%.

Institutional Trading of John Hancock Preferred Income Fund II

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in John Hancock Preferred Income Fund II by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after buying an additional 770 shares during the period. Raymond James Financial Inc. boosted its holdings in John Hancock Preferred Income Fund II by 6.7% in the 2nd quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock worth $328,000 after acquiring an additional 1,299 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in John Hancock Preferred Income Fund II by 1.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock worth $2,313,000 after acquiring an additional 1,463 shares during the period. Wedbush Securities Inc. boosted its holdings in John Hancock Preferred Income Fund II by 6.4% in the 4th quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock worth $404,000 after acquiring an additional 1,512 shares during the period. Finally, Royal Bank of Canada boosted its holdings in John Hancock Preferred Income Fund II by 7.3% in the 4th quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock worth $488,000 after acquiring an additional 2,078 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.