John Hancock Preferred Income Fund III (NYSE:HPS) Stock Passes Above Fifty Day Moving Average – Here’s Why

John Hancock Preferred Income Fund III (NYSE:HPS) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.47 and traded as high as $14.49. John Hancock Preferred Income Fund III shares last traded at $14.41, with a volume of 17,780 shares trading hands.

John Hancock Preferred Income Fund III Stock Performance

The business has a 50 day moving average of $14.47 and a 200 day moving average of $14.65.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 11th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

A number of institutional investors have recently made changes to their positions in HPS. Royal Bank of Canada grew its stake in shares of John Hancock Preferred Income Fund III by 11.4% during the first quarter. Royal Bank of Canada now owns 51,471 shares of the company’s stock worth $772,000 after purchasing an additional 5,264 shares during the period. Invesco Ltd. grew its stake in shares of John Hancock Preferred Income Fund III by 6.2% during the second quarter. Invesco Ltd. now owns 235,960 shares of the company’s stock worth $3,365,000 after purchasing an additional 13,710 shares during the period. Cresset Asset Management LLC bought a new position in John Hancock Preferred Income Fund III during the second quarter worth about $189,000. Ameriprise Financial Inc. lifted its holdings in John Hancock Preferred Income Fund III by 9.6% during the second quarter. Ameriprise Financial Inc. now owns 137,708 shares of the company’s stock worth $1,964,000 after acquiring an additional 12,097 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in John Hancock Preferred Income Fund III by 6.5% during the second quarter. Bank of America Corp DE now owns 147,009 shares of the company’s stock worth $2,096,000 after acquiring an additional 9,031 shares in 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.