John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Decrease in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 28,746 shares, a drop of 35.8% from the July 30th total of 44,785 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 131,523 shares, the days-to-cover ratio is currently 0.2 days.

John Hancock Premium Dividend Fund Stock Performance

PDT stock remained flat at $12.61 during midday trading on Tuesday. 117,891 shares of the company’s stock were exchanged, compared to its average volume of 124,971. John Hancock Premium Dividend Fund has a 1 year low of $12.49 and a 1 year high of $13.65. The stock’s 50 day moving average price is $12.82 and its 200-day moving average price is $13.00.

John Hancock Premium Dividend Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Thursday, August 13th were issued a dividend of $0.0883 per share. The ex-dividend date was Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 8.4%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of John Hancock Premium Dividend Fund by 43.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,864 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 864 shares during the period. PNC Financial Services Group Inc. lifted its position in John Hancock Premium Dividend Fund by 36.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,328 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 889 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in John Hancock Premium Dividend Fund by 0.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 229,043 shares of the real estate investment trust’s stock valued at $2,909,000 after purchasing an additional 917 shares during the last quarter. Ausdal Financial Partners Inc. boosted its holdings in shares of John Hancock Premium Dividend Fund by 2.6% in the 4th quarter. Ausdal Financial Partners Inc. now owns 57,863 shares of the real estate investment trust’s stock valued at $735,000 after buying an additional 1,447 shares during the last quarter. Finally, &PARTNERS grew its position in shares of John Hancock Premium Dividend Fund by 4.0% in the 4th quarter. &PARTNERS now owns 48,708 shares of the real estate investment trust’s stock valued at $619,000 after acquiring an additional 1,852 shares during the period. 12.98% of the stock is owned by institutional investors and hedge funds.

About John Hancock Premium Dividend Fund

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.