John Hancock Preferred Income Fund III (NYSE:HPS) Shares Pass Below Fifty Day Moving Average – Here’s Why

Shares of John Hancock Preferred Income Fund III (NYSE:HPS) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.63 and traded as low as $14.30. John Hancock Preferred Income Fund III shares last traded at $14.3250, with a volume of 26,506 shares changing hands.

John Hancock Preferred Income Fund III Stock Performance

The business has a 50-day moving average price of $14.62 and a two-hundred day moving average price of $14.88.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, March 12th. This represents a c) annualized dividend and a yield of 9.4%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several hedge funds and other institutional investors have recently made changes to their positions in HPS. PNC Financial Services Group Inc. increased its stake in shares of John Hancock Preferred Income Fund III by 2,816.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,071 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares during the period. Kestra Advisory Services LLC purchased a new position in John Hancock Preferred Income Fund III in the fourth quarter worth approximately $92,000. Cherry Creek Investment Advisors Inc. acquired a new position in John Hancock Preferred Income Fund III during the 4th quarter worth approximately $144,000. Stratos Wealth Partners LTD. acquired a new position in John Hancock Preferred Income Fund III during the 3rd quarter worth approximately $159,000. Finally, Focus Financial Network Inc. increased its position in shares of John Hancock Preferred Income Fund III by 8.5% in the 4th quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock valued at $183,000 after purchasing an additional 1,000 shares during the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.