John Hancock Preferred Income Fund (NYSE:HPI) Short Interest Down 51.3% in December

John Hancock Preferred Income Fund (NYSE:HPI) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 141,437 shares, a decrease of 51.3% from the December 15th total of 290,711 shares. Based on an average trading volume of 71,892 shares, the days-to-cover ratio is currently 2.0 days. Based on an average trading volume of 71,892 shares, the days-to-cover ratio is currently 2.0 days.

John Hancock Preferred Income Fund Price Performance

Shares of NYSE:HPI traded down $0.01 during mid-day trading on Wednesday, reaching $16.26. 45,505 shares of the company’s stock were exchanged, compared to its average volume of 59,078. John Hancock Preferred Income Fund has a twelve month low of $14.61 and a twelve month high of $17.78. The business’s fifty day moving average price is $16.66 and its 200-day moving average price is $16.61.

John Hancock Preferred Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, December 29th will be given a $0.1235 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Monday, December 29th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

A number of hedge funds have recently made changes to their positions in HPI. Royal Bank of Canada lifted its position in shares of John Hancock Preferred Income Fund by 0.3% during the 1st quarter. Royal Bank of Canada now owns 567,767 shares of the company’s stock valued at $9,419,000 after acquiring an additional 1,753 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in John Hancock Preferred Income Fund in the second quarter valued at $415,000. Fifth Third Bancorp acquired a new position in shares of John Hancock Preferred Income Fund during the second quarter valued at about $69,000. KPP Advisory Services LLC acquired a new position in shares of John Hancock Preferred Income Fund during the second quarter valued at about $215,000. Finally, SAM Advisors LLC boosted its position in shares of John Hancock Preferred Income Fund by 9.2% during the 2nd quarter. SAM Advisors LLC now owns 29,152 shares of the company’s stock worth $466,000 after purchasing an additional 2,456 shares in the last quarter.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.