Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Drops By 70.4%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 43,236 shares, a decline of 70.4% from the May 31st total of 145,862 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 37,024 shares, the short-interest ratio is currently 1.2 days.

John Hancock Preferred Income ETF Price Performance

NYSEARCA:JHPI traded down $0.13 during mid-day trading on Friday, hitting $22.66. The company’s stock had a trading volume of 34,676 shares, compared to its average volume of 50,638. The business’s fifty day moving average is $22.91 and its two-hundred day moving average is $22.97. The stock has a market cap of $176.75 million, a price-to-earnings ratio of 60.41 and a beta of 0.37. John Hancock Preferred Income ETF has a 1 year low of $22.42 and a 1 year high of $23.56.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Private Advisor Group LLC increased its holdings in shares of John Hancock Preferred Income ETF by 421.7% during the 3rd quarter. Private Advisor Group LLC now owns 758,690 shares of the company’s stock valued at $17,579,000 after purchasing an additional 613,277 shares in the last quarter. LPL Financial LLC raised its position in shares of John Hancock Preferred Income ETF by 31.4% in the fourth quarter. LPL Financial LLC now owns 648,267 shares of the company’s stock worth $14,804,000 after acquiring an additional 154,995 shares during the period. BDFS Capital LLC acquired a new position in shares of John Hancock Preferred Income ETF in the fourth quarter worth about $3,362,000. Burk Holdings LLC purchased a new stake in shares of John Hancock Preferred Income ETF during the 3rd quarter worth about $2,846,000. Finally, Granite Bay Wealth Management LLC boosted its stake in shares of John Hancock Preferred Income ETF by 8.8% during the 4th quarter. Granite Bay Wealth Management LLC now owns 769,129 shares of the company’s stock worth $17,565,000 after acquiring an additional 62,491 shares in the last quarter.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.