John Hancock Preferred Income Fund II (NYSE:HPF) Sees Significant Decrease in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 2,820 shares, a drop of 80.3% from the October 15th total of 14,350 shares. Based on an average trading volume of 82,878 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors and hedge funds have recently bought and sold shares of HPF. Integrated Wealth Concepts LLC bought a new stake in John Hancock Preferred Income Fund II during the second quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in shares of John Hancock Preferred Income Fund II in the third quarter worth about $27,000. William Mack & Associates Inc. purchased a new position in shares of John Hancock Preferred Income Fund II during the 3rd quarter valued at about $53,000. Western Wealth Management LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the 1st quarter valued at about $66,000. Finally, Arlington Capital Management Inc. purchased a new position in shares of John Hancock Preferred Income Fund II during the 2nd quarter valued at about $255,000.

John Hancock Preferred Income Fund II Trading Down 2.2%

Shares of HPF stock traded down $0.28 during mid-day trading on Thursday, reaching $12.66. 85,066 shares of the company’s stock traded hands, compared to its average volume of 48,100. John Hancock Preferred Income Fund II has a 12 month low of $12.65 and a 12 month high of $16.64. The firm has a 50 day moving average price of $13.61 and a two-hundred day moving average price of $15.32.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be given a dividend of $0.1235 per share. The ex-dividend date is Thursday, November 12th. This represents a $1.48 annualized dividend and a yield of 11.7%.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end investment fund managed by John Hancock Investment Management, an affiliate of Manulife Investment Management. The fund seeks to provide investors with a high level of current income by investing primarily in preferred securities and other income-producing investments. Its portfolio may include preferred stocks, corporate debt securities and other fixed-income instruments issued by companies in a range of industries. The fund can invest in securities issued by companies in the United States and other countries, giving it exposure to domestic and international income-producing markets.