John Hancock Premium Dividend Fund (NYSE:PDT) Hits New 52-Week Low – What’s Next?

John Hancock Premium Dividend Fund (NYSE:PDT)’s share price reached a new 52-week low on Friday . The company traded as low as $12.49 and last traded at $12.52, with a volume of 26652 shares traded. The stock had previously closed at $12.54.

John Hancock Premium Dividend Fund Price Performance

The firm’s 50 day simple moving average is $12.81 and its 200-day simple moving average is $12.98.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a dividend of $0.0883 per share. The ex-dividend date is Friday, September 11th. This represents a c) annualized dividend and a yield of 8.5%.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

A number of large investors have recently made changes to their positions in PDT. SHP Wealth Management acquired a new stake in shares of John Hancock Premium Dividend Fund during the 4th quarter valued at approximately $27,000. Advisory Services Network LLC acquired a new position in shares of John Hancock Premium Dividend Fund in the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. raised its stake in 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 last quarter. PNC Financial Services Group Inc. lifted its stake 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 buying an additional 889 shares during the period. Finally, Ameriflex Group Inc. lifted its stake in shares of John Hancock Premium Dividend Fund by 324.6% during the 4th quarter. Ameriflex Group Inc. now owns 4,246 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 3,246 shares during the period. Hedge funds and other institutional investors own 12.98% of the company’s stock.

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.