John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Update

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 52,131 shares, a decrease of 65.0% from the August 31st total of 148,734 shares. Based on an average trading volume of 72,620 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of John Hancock Preferred Income Fund II

Several hedge funds and other institutional investors have recently modified their holdings of HPF. J.W. Cole Advisors Inc. raised its holdings in John Hancock Preferred Income Fund II by 1.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after acquiring an additional 1,463 shares during the period. Kestra Advisory Services LLC grew its position in shares of John Hancock Preferred Income Fund II by 4.0% in the first quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock valued at $1,084,000 after purchasing an additional 2,700 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of John Hancock Preferred Income Fund II during the second quarter worth approximately $384,000. Arlington Capital Management Inc. bought a new position in shares of John Hancock Preferred Income Fund II during the second quarter worth approximately $255,000. Finally, Western Wealth Management LLC acquired a new stake in John Hancock Preferred Income Fund II during the 1st quarter worth approximately $66,000.

John Hancock Preferred Income Fund II Trading Down 2.7%

HPF stock traded down $0.37 during midday trading on Monday, reaching $13.41. 85,234 shares of the company were exchanged, compared to its average volume of 40,740. The business has a 50-day moving average price of $15.38 and a two-hundred day moving average price of $15.67. John Hancock Preferred Income Fund II has a one year low of $13.38 and a one year high of $17.13.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.1235 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date is Friday, September 11th.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end fund managed by John Hancock Investment Management. The fund seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in preferred securities issued by corporations and financial institutions. Its portfolio may also include other income-producing investments, such as corporate debt securities and securities issued by government-related entities.