John Hancock Preferred Income Fund (NYSE:HPI) Shares Cross Below 50 Day Moving Average – What’s Next?

Shares of John Hancock Preferred Income Fund (NYSE:HPI) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.31 and traded as low as $16.53. John Hancock Preferred Income Fund shares last traded at $16.78, with a volume of 83,937 shares traded.

John Hancock Preferred Income Fund Stock Performance

The company’s 50 day moving average price is $17.28 and its two-hundred day moving average price is $17.49.

John Hancock Preferred Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be issued a $0.1235 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Monday, December 30th.

Institutional Trading of John Hancock Preferred Income Fund

Hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE purchased a new stake in John Hancock Preferred Income Fund during the third quarter worth $95,000. Wedbush Securities Inc. lifted its stake in shares of John Hancock Preferred Income Fund by 5.3% during the 2nd quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock worth $199,000 after purchasing an additional 600 shares during the last quarter. SAM Advisors LLC boosted its position in John Hancock Preferred Income Fund by 3.4% during the third quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock valued at $510,000 after purchasing an additional 886 shares in the last quarter. Raymond James & Associates grew its stake in John Hancock Preferred Income Fund by 1.7% in the second quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Fiera Capital Corp grew its stake in John Hancock Preferred Income Fund by 1.5% in the third quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after purchasing an additional 1,170 shares during the last quarter.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund is a closed ended balanced 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 public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.