John Hancock Preferred Income ETF (NYSEARCA:JHPI) Short Interest Up 61.0% in March

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 12,609 shares, an increase of 61.0% from the February 26th total of 7,830 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 59,483 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On John Hancock Preferred Income ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. BDFS Capital LLC purchased a new position in John Hancock Preferred Income ETF in the 4th quarter worth approximately $3,362,000. NewEdge Advisors LLC increased its holdings 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 worth $628,000 after purchasing an additional 2,892 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of 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 worth $529,000 after purchasing an additional 13,321 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of John Hancock Preferred Income ETF by 35.8% in the fourth quarter. Osaic Holdings Inc. now owns 153,684 shares of the company’s stock worth $3,510,000 after purchasing an additional 40,552 shares during the last quarter. Finally, &PARTNERS purchased a new position in shares of John Hancock Preferred Income ETF in the fourth quarter worth $1,353,000.

John Hancock Preferred Income ETF Price Performance

JHPI stock traded down $0.18 during trading on Friday, hitting $22.48. 28,734 shares of the stock traded hands, compared to its average volume of 51,873. The stock has a market cap of $143.87 million, a price-to-earnings ratio of 60.41 and a beta of 0.40. John Hancock Preferred Income ETF has a 1 year low of $21.57 and a 1 year high of $23.56. The firm’s 50 day moving average is $23.06 and its two-hundred day moving average is $23.08.

John Hancock Preferred Income ETF Cuts Dividend

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

About John Hancock Preferred Income ETF

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.