John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund III (NYSE:HPS)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $14.38 and traded as high as $14.44. John Hancock Preferred Income Fund III shares last traded at $14.3850, with a volume of 136,883 shares traded.

John Hancock Preferred Income Fund III Stock Down 0.8%

The business’s 50 day simple moving average is $14.37 and its 200 day simple moving average is $14.49.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be issued a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, August 13th.

Institutional Trading of John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new stake in shares of John Hancock Preferred Income Fund III in the second quarter worth approximately $81,000. Focus Financial Network Inc. grew its holdings in John Hancock Preferred Income Fund III by 18.1% during the 2nd quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock worth $215,000 after acquiring an additional 2,260 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of John Hancock Preferred Income Fund III during the first quarter valued at approximately $459,000. Royal Bank of Canada increased its holdings in shares of John Hancock Preferred Income Fund III by 2.1% in the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after acquiring an additional 3,323 shares during the period. Finally, Fifth Third Bancorp purchased a new position in John Hancock Preferred Income Fund III in the first quarter valued at about $92,000.

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.