Short Interest in John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Rises By 734.6%

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 20,639 shares, an increase of 734.6% from the February 26th total of 2,473 shares. Based on an average daily volume of 63,478 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 63,478 shares, the short-interest ratio is currently 0.3 days.

John Hancock Hedged Equity & Income Fund Stock Performance

Shares of HEQ traded down $0.04 during midday trading on Tuesday, hitting $10.73. The stock had a trading volume of 70,492 shares, compared to its average volume of 51,537. The company has a 50 day simple moving average of $11.16 and a two-hundred day simple moving average of $10.89. John Hancock Hedged Equity & Income Fund has a twelve month low of $9.23 and a twelve month high of $11.58.

John Hancock Hedged Equity & Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend is Thursday, March 12th.

Hedge Funds Weigh In On John Hancock Hedged Equity & Income Fund

Large investors have recently bought and sold shares of the company. Bulldog Investors LLP acquired a new stake in shares of John Hancock Hedged Equity & Income Fund in the fourth quarter valued at approximately $4,104,000. Bank of America Corp DE boosted its holdings in John Hancock Hedged Equity & Income Fund by 11.7% during the second quarter. Bank of America Corp DE now owns 288,281 shares of the investment management company’s stock worth $3,050,000 after purchasing an additional 30,102 shares during the last quarter. Saba Capital Management L.P. grew its position in John Hancock Hedged Equity & Income Fund by 11.0% in the fourth quarter. Saba Capital Management L.P. now owns 281,328 shares of the investment management company’s stock valued at $3,024,000 after purchasing an additional 27,958 shares in the last quarter. Shaker Financial Services LLC grew its position in John Hancock Hedged Equity & Income Fund by 9.9% in the third quarter. Shaker Financial Services LLC now owns 247,175 shares of the investment management company’s stock valued at $2,632,000 after purchasing an additional 22,211 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in John Hancock Hedged Equity & Income Fund by 3.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 138,049 shares of the investment management company’s stock valued at $1,470,000 after buying an additional 4,356 shares during the last quarter.

About John Hancock Hedged Equity & Income Fund

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.