John Hancock Preferred Income Fund III (NYSE:HPS) Stock Crosses Below 50-Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund III (NYSE:HPS) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $14.44 and traded as low as $14.33. John Hancock Preferred Income Fund III shares last traded at $14.35, with a volume of 35,036 shares trading hands.

John Hancock Preferred Income Fund III Stock Performance

The stock has a 50-day moving average of $14.43 and a 200 day moving average of $14.51.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in 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 purchasing an additional 2,000 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in John Hancock Preferred Income Fund III in the 4th quarter valued at about $92,000. Fifth Third Bancorp purchased a new stake in shares of John Hancock Preferred Income Fund III in the 1st quarter valued at approximately $92,000. Cherry Creek Investment Advisors Inc. acquired a new stake in shares of John Hancock Preferred Income Fund III during the 4th quarter worth approximately $144,000. Finally, Focus Financial Network Inc. raised its position in shares of John Hancock Preferred Income Fund III by 8.5% during the 4th quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock valued at $183,000 after buying an additional 1,000 shares during the period.

About John Hancock Preferred Income Fund III

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.