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

John Hancock Preferred Income Fund II (NYSE:HPF) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 15,100 shares, an increase of 268.3% from the August 31st total of 4,100 shares. Based on an average daily volume of 40,800 shares, the short-interest ratio is presently 0.4 days.

John Hancock Preferred Income Fund II Price Performance

John Hancock Preferred Income Fund II stock traded up $0.12 during midday trading on Friday, hitting $18.27. 31,848 shares of the stock were exchanged, compared to its average volume of 42,460. John Hancock Preferred Income Fund II has a fifty-two week low of $12.99 and a fifty-two week high of $18.42. The stock’s 50-day simple moving average is $17.04 and its 200 day simple moving average is $16.86.

John Hancock Preferred Income Fund II Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a yield of 8.11%. The ex-dividend date is Friday, September 13th. This is a positive change from John Hancock Preferred Income Fund II’s previous monthly dividend of $0.12.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HPF. Private Advisor Group LLC boosted its stake in John Hancock Preferred Income Fund II by 5.5% during the first quarter. Private Advisor Group LLC now owns 21,297 shares of the company’s stock worth $352,000 after buying an additional 1,106 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 9.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 67,813 shares of the company’s stock valued at $1,121,000 after purchasing an additional 5,768 shares during the period. Cetera Advisors LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the first quarter valued at approximately $180,000. Simplicity Wealth LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the second quarter valued at approximately $285,000. Finally, Axim Planning & Wealth boosted its stake in shares of John Hancock Preferred Income Fund II by 120.3% in the second quarter. Axim Planning & Wealth now owns 368,273 shares of the company’s stock valued at $6,250,000 after purchasing an additional 201,080 shares during the period.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.