John Hancock Premium Dividend Fund (NYSE:PDT) Stock Short Interest Rises 55.6%

John Hancock Premium Dividend Fund (NYSE:PDT) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 69,679 shares, a growth of 55.6% from the September 15th total of 44,779 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 147,986 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of John Hancock Premium Dividend Fund

Several institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC raised its holdings in shares of John Hancock Premium Dividend Fund by 1.2% in the first quarter. Pathway Financial Advisers LLC now owns 231,745 shares of the real estate investment trust’s stock worth $3,036,000 after buying an additional 2,702 shares during the period. 1607 Capital Partners LLC purchased a new stake in shares of John Hancock Premium Dividend Fund during the fourth quarter valued at $2,708,000. First Trust Advisors LP boosted its stake in shares of John Hancock Premium Dividend Fund by 36.6% during the first quarter. First Trust Advisors LP now owns 142,765 shares of the real estate investment trust’s stock valued at $1,870,000 after purchasing an additional 38,256 shares during the period. Absolute Investment Advisers LLC bought a new position in shares of John Hancock Premium Dividend Fund in the first quarter worth about $1,145,000. Finally, Kestra Advisory Services LLC grew its holdings in shares of John Hancock Premium Dividend Fund by 18.6% in the first quarter. Kestra Advisory Services LLC now owns 86,676 shares of the real estate investment trust’s stock worth $1,135,000 after purchasing an additional 13,576 shares during the last quarter. Institutional investors own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Trading Up 0.7%

PDT stock opened at $11.90 on Friday. John Hancock Premium Dividend Fund has a twelve month low of $11.56 and a twelve month high of $13.65. The firm’s fifty day simple moving average is $12.24 and its two-hundred day simple moving average is $12.70.

John Hancock Premium Dividend Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 13th will be given a $0.0883 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Tuesday, October 13th.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund is a publicly traded, diversified closed-end investment fund listed on the New York Stock Exchange under the symbol PDT. The fund seeks to provide a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in preferred securities and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities and financial services sectors, although its holdings may change over time based on market conditions and the investment team’s assessment of income potential, credit quality and valuation.

John Hancock Premium Dividend Fund is managed by John Hancock Investment Management, the asset-management business associated with Manulife Investment Management.