Short Interest in John Hancock Premium Dividend Fund (NYSE:PDT) Drops By 49.7%

John Hancock Premium Dividend Fund (NYSE:PDT) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 9,883 shares, a drop of 49.7% from the May 31st total of 19,645 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 140,150 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Several large investors have recently modified their holdings of PDT. SHP Wealth Management acquired a new stake in shares of John Hancock Premium Dividend Fund during the 4th quarter worth about $27,000. Advisory Services Network LLC acquired a new position in John Hancock Premium Dividend Fund in the third quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. boosted its stake in John Hancock Premium Dividend Fund by 43.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,864 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 864 shares during the period. PNC Financial Services Group Inc. increased its position in shares of John Hancock Premium Dividend Fund by 36.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,328 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 889 shares during the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of John Hancock Premium Dividend Fund by 324.6% during the fourth quarter. Ameriflex Group Inc. now owns 4,246 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 3,246 shares during the last quarter. Institutional investors and hedge funds own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Stock Down 0.4%

Shares of PDT stock traded down $0.05 during trading on Wednesday, hitting $12.90. 122,936 shares of the stock traded hands, compared to its average volume of 130,867. John Hancock Premium Dividend Fund has a 52-week low of $12.53 and a 52-week high of $13.65. The firm’s fifty day moving average price is $12.89 and its 200-day moving average price is $13.00.

John Hancock Premium Dividend Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a $0.0883 dividend. This is an increase from John Hancock Premium Dividend Fund’s previous monthly dividend of $0.08. This represents a c) dividend on an annualized basis and a yield of 8.2%. The ex-dividend date is Monday, July 13th.

John Hancock Premium Dividend Fund Company Profile

The John Hancock Premium Dividend Fund (NYSE:PDT) is a publicly traded, closed-end management investment company designed to deliver high current income and potential capital growth. The fund’s core strategy centers on dividend-paying and income-producing securities, combining equity and fixed-income instruments to achieve a balanced risk-return profile.

Managed by John Hancock Investment Management (US) LLC, a subsidiary of Manulife Financial Corporation, the fund primarily allocates assets to dividend-paying common stocks and preferred stocks of U.S.