John Hancock Preferred Income ETF (NYSEARCA:JHPI) Short Interest Up 299.1% in February

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 89,609 shares, a growth of 299.1% from the January 29th total of 22,451 shares. Based on an average daily volume of 39,107 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.4% of the company’s stock are sold short. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 39,107 shares, the days-to-cover ratio is presently 2.3 days.

John Hancock Preferred Income ETF Price Performance

JHPI stock traded down $0.03 during trading hours on Thursday, reaching $23.26. 40,497 shares of the stock were exchanged, compared to its average volume of 57,951. The firm’s 50-day moving average is $23.08 and its 200-day moving average is $23.09. The company has a market cap of $148.83 million, a price-to-earnings ratio of 60.41 and a beta of 0.40. John Hancock Preferred Income ETF has a 12 month low of $21.57 and a 12 month high of $23.56.

John Hancock Preferred Income ETF Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Wednesday, February 25th will be issued a dividend of $0.0365 per share. The ex-dividend date is Wednesday, February 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%.

Institutional Investors Weigh In On John Hancock Preferred Income ETF

Institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC grew its position in shares of John Hancock Preferred Income ETF by 11.7% in the 4th quarter. NewEdge Advisors LLC now owns 27,507 shares of the company’s stock valued at $628,000 after acquiring an additional 2,892 shares during the period. Cetera Investment Advisers lifted its stake in John Hancock Preferred Income ETF by 135.5% in the 4th quarter. Cetera Investment Advisers now owns 23,150 shares of the company’s stock valued at $529,000 after purchasing an additional 13,321 shares during the last quarter. Osaic Holdings Inc. lifted its stake in John Hancock Preferred Income ETF by 35.8% in the 4th quarter. Osaic Holdings Inc. now owns 153,684 shares of the company’s stock valued at $3,510,000 after purchasing an additional 40,552 shares during the last quarter. &PARTNERS bought a new position in John Hancock Preferred Income ETF during the fourth quarter worth about $1,353,000. Finally, Beacon Financial Advisory LLC increased its position in John Hancock Preferred Income ETF by 2.0% during the fourth quarter. Beacon Financial Advisory LLC now owns 37,833 shares of the company’s stock worth $864,000 after buying an additional 741 shares during the last quarter.

John Hancock Preferred Income ETF Company Profile

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.