John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS) shares crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.07 and traded as high as $15.08. John Hancock Preferred Income Fund III shares last traded at $15.05, with a volume of 29,423 shares changing hands.

John Hancock Preferred Income Fund III Stock Performance

The business has a 50 day moving average of $15.07 and a 200 day moving average of $15.68.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Trading of John Hancock Preferred Income Fund III

A number of hedge funds have recently added to or reduced their stakes in HPS. Wedbush Securities Inc. raised its holdings in shares of John Hancock Preferred Income Fund III by 6.3% in the 4th quarter. Wedbush Securities Inc. now owns 24,210 shares of the company’s stock worth $364,000 after purchasing an additional 1,428 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter worth about $34,000. BankPlus Trust Department purchased a new position in shares of John Hancock Preferred Income Fund III in the 4th quarter worth about $38,000. Fifth Third Bancorp purchased a new position in shares of John Hancock Preferred Income Fund III in the 4th quarter worth about $41,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter worth about $176,000.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III 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.