John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Passes Below 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $13.95 and traded as low as $12.89. John Hancock Preferred Income Fund III shares last traded at $12.95, with a volume of 123,367 shares.

John Hancock Preferred Income Fund III Price Performance

The stock has a fifty day simple moving average of $13.95 and a two-hundred day simple moving average of $14.29.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a $0.11 dividend. The ex-dividend date is Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 10.2%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new position in John Hancock Preferred Income Fund III in the 1st quarter valued at about $459,000. Fiera Capital Corp grew its stake in shares of John Hancock Preferred Income Fund III by 18.1% during the fourth quarter. Fiera Capital Corp now owns 115,546 shares of the company’s stock valued at $1,665,000 after acquiring an additional 17,726 shares in the last quarter. Readystate Asset Management LP purchased a new stake in shares of John Hancock Preferred Income Fund III during the second quarter worth about $253,000. Fifth Third Bancorp purchased a new stake in shares of John Hancock Preferred Income Fund III during the first quarter worth about $92,000. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of John Hancock Preferred Income Fund III by 10.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 60,647 shares of the company’s stock worth $874,000 after acquiring an additional 5,770 shares in the last quarter.

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.