John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Down 38.4% in January

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 18,100 shares, a decline of 38.4% from the December 31st total of 29,400 shares. Based on an average trading volume of 61,700 shares, the short-interest ratio is presently 0.3 days.

John Hancock Preferred Income Fund III Stock Performance

Shares of NYSE HPS remained flat at $14.96 during mid-day trading on Friday. 89,795 shares of the stock were exchanged, compared to its average volume of 67,635. The stock’s 50 day moving average price is $15.09 and its 200-day moving average price is $15.87. John Hancock Preferred Income Fund III has a 12-month low of $14.09 and a 12-month high of $17.25.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 13th were given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 8.82%. The ex-dividend date of this dividend was Monday, January 13th.

Institutional Trading of John Hancock Preferred Income Fund III

Several hedge funds have recently modified their holdings of the company. US Bancorp DE purchased a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at approximately $76,000. Fiera Capital Corp raised its position in shares of John Hancock Preferred Income Fund III by 0.7% in the 3rd quarter. Fiera Capital Corp now owns 85,001 shares of the company’s stock valued at $1,465,000 after purchasing an additional 627 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at approximately $34,000. B. Riley Wealth Advisors Inc. acquired a new position in John Hancock Preferred Income Fund III in the 3rd quarter worth approximately $176,000. Finally, Tallon Kerry Patrick acquired a new position in John Hancock Preferred Income Fund III in the 4th quarter worth approximately $360,000.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.