John Hancock Preferred Income Fund II (NYSE:HPF) Sees Significant Decline in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 4,009 shares, a drop of 92.3% from the September 15th total of 52,131 shares. Based on an average daily trading volume, of 102,192 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in John Hancock Preferred Income Fund II during the 2nd quarter valued at $26,000. Kestra Advisory Services LLC increased its stake in John Hancock Preferred Income Fund II by 4.0% in the first quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock worth $1,084,000 after purchasing an additional 2,700 shares during the period. Western Wealth Management LLC purchased a new stake in John Hancock Preferred Income Fund II in the first quarter worth $66,000. Arlington Capital Management Inc. bought a new stake in shares of John Hancock Preferred Income Fund II during the second quarter worth $255,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of John Hancock Preferred Income Fund II during the second quarter worth $384,000.

John Hancock Preferred Income Fund II Stock Performance

Shares of John Hancock Preferred Income Fund II stock traded up $0.19 during trading hours on Friday, reaching $13.41. The company’s stock had a trading volume of 87,887 shares, compared to its average volume of 42,858. The firm has a 50 day moving average price of $14.89 and a 200-day moving average price of $15.51. John Hancock Preferred Income Fund II has a one year low of $13.09 and a one year high of $17.06.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 13th will be given a $0.1235 dividend. The ex-dividend date is Tuesday, October 13th. This represents a $1.48 annualized dividend and a yield of 11.1%.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end fund managed by John Hancock Investment Management. The fund seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in preferred securities issued by corporations and financial institutions. Its portfolio may also include other income-producing investments, such as corporate debt securities and securities issued by government-related entities.