John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 61,500 shares, a growth of 485.7% from the January 31st total of 10,500 shares. Based on an average daily trading volume, of 67,500 shares, the days-to-cover ratio is presently 0.9 days.

John Hancock Preferred Income Fund III Trading Down 0.3 %

Shares of HPS traded down $0.04 during trading hours on Thursday, hitting $15.22. The stock had a trading volume of 43,652 shares, compared to its average volume of 66,878. John Hancock Preferred Income Fund III has a 12-month low of $14.09 and a 12-month high of $17.25. The company’s fifty day simple moving average is $15.04 and its 200 day simple moving average is $15.79.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.32 annualized dividend and a yield of 8.67%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in John Hancock Preferred Income Fund III during the 3rd quarter valued at $34,000. BankPlus Trust Department acquired a new position in shares of John Hancock Preferred Income Fund III in the 4th quarter valued at about $38,000. Fifth Third Bancorp acquired a new stake in John Hancock Preferred Income Fund III during the fourth quarter valued at $41,000. US Bancorp DE bought a new position in shares of John Hancock Preferred Income Fund III during the 3rd quarter valued at $76,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in John Hancock Preferred Income Fund III during the third quarter valued at approximately $176,000.

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.