John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Significant Growth in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 101,001 shares, a growth of 210.4% from the August 15th total of 32,536 shares. Based on an average daily volume of 37,821 shares, the short-interest ratio is presently 2.7 days. Approximately 1.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC increased its stake in John Hancock Preferred Income ETF by 261.4% in the first quarter. Jane Street Group LLC now owns 35,756 shares of the company’s stock valued at $801,000 after purchasing an additional 25,861 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of John Hancock Preferred Income ETF during the second quarter worth about $452,000. Bank of America Corp DE boosted its stake in shares of John Hancock Preferred Income ETF by 10.3% during the second quarter. Bank of America Corp DE now owns 205,497 shares of the company’s stock worth $4,633,000 after buying an additional 19,204 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of John Hancock Preferred Income ETF by 44.9% during the third quarter. Envestnet Asset Management Inc. now owns 14,174 shares of the company’s stock worth $328,000 after buying an additional 4,394 shares during the last quarter. Finally, Stonebridge Financial Planning Group LLC grew its holdings in shares of John Hancock Preferred Income ETF by 18.9% during the third quarter. Stonebridge Financial Planning Group LLC now owns 12,660 shares of the company’s stock worth $293,000 after buying an additional 2,010 shares during the last quarter.

John Hancock Preferred Income ETF Trading Up 0.0%

Shares of John Hancock Preferred Income ETF stock traded up $0.01 on Friday, hitting $22.25. The stock had a trading volume of 76,283 shares, compared to its average volume of 48,615. The stock has a market cap of $209.15 million, a price-to-earnings ratio of 60.41 and a beta of 0.37. John Hancock Preferred Income ETF has a 52-week low of $22.15 and a 52-week high of $23.56. The company’s 50 day moving average price is $22.57 and its 200 day moving average price is $22.79.

John Hancock Preferred Income ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 29th were issued a $0.1434 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Wednesday, July 29th. This is a positive change from John Hancock Preferred Income ETF’s previous monthly dividend of $0.12.

John Hancock Preferred Income ETF Company Profile

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.