Hovnanian Enterprises, Inc. PFD DEP1/1000A (NASDAQ:HOVNP) Shares Break Below 50 Day Moving Average – Should You Sell?

Hovnanian Enterprises, Inc. PFD DEP1/1000A (NASDAQ:HOVNP) shares crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $18.53 and traded as low as $14.35. Hovnanian Enterprises, Inc. PFD DEP1/1000A shares last traded at $14.55, with a volume of 105,508 shares.

Hovnanian Enterprises, Inc. PFD DEP1/1000A Stock Performance

The company has a 50 day moving average of $18.42 and a 200-day moving average of $19.75.

Hovnanian Enterprises, Inc. PFD DEP1/1000A Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were issued a dividend of $0.4766 per share. The ex-dividend date was Thursday, October 1st. This represents a $1.91 dividend on an annualized basis and a dividend yield of 13.5%.

Institutional Investors Weigh In On Hovnanian Enterprises, Inc. PFD DEP1/1000A

A hedge fund recently raised its position in Hovnanian Enterprises, Inc. PFD DEP1/1000A stock. Shikiar Asset Management Inc. increased its position in Hovnanian Enterprises, Inc. PFD DEP1/1000A (NASDAQ:HOVNP) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,550 shares of the company’s stock after acquiring an additional 1,075 shares during the period. Shikiar Asset Management Inc.’s holdings in Hovnanian Enterprises, Inc. PFD DEP1/1000A were worth $585,000 at the end of the most recent reporting period.

About Hovnanian Enterprises, Inc. PFD DEP1/1000A

Hovnanian Enterprises, Inc is a residential homebuilder that designs, constructs and sells single-family homes, townhomes and condominiums. Its communities are marketed primarily under the K. Hovnanian’s brand and may include both traditional neighborhoods and age-restricted active-adult communities. The company also provides mortgage, title and insurance-related services to support home purchases in certain markets.

Founded in 1959 by Kevork S. Hovnanian, the company serves homebuyers across several regions of the United States, including the Northeast, Mid-Atlantic, Southeast, Southwest and parts of the Midwest.