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

John Hancock Preferred Income Fund III (NYSE:HPS) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $12.88 and traded as low as $11.62. John Hancock Preferred Income Fund III shares last traded at $11.67, with a volume of 115,485 shares trading hands.

John Hancock Preferred Income Fund III Stock Performance

The business has a 50 day simple moving average of $12.88 and a 200-day simple moving average of $13.90.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.32 annualized dividend and a dividend yield of 11.3%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of John Hancock Preferred Income Fund III during the second quarter valued at approximately $38,000. Compass Financial Management LLC bought a new stake in John Hancock Preferred Income Fund III during the second quarter worth $81,000. Fifth Third Bancorp bought a new stake in John Hancock Preferred Income Fund III during the first quarter worth $92,000. B. Riley Wealth Advisors Inc. grew its holdings in John Hancock Preferred Income Fund III by 9.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 12,334 shares of the company’s stock worth $148,000 after buying an additional 1,039 shares in the last quarter. Finally, Focus Financial Network Inc. grew its holdings in John Hancock Preferred Income Fund III by 18.1% during the second quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock worth $215,000 after buying an additional 2,260 shares in the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a closed-end investment fund listed on the New York Stock Exchange under the symbol HPS. The fund seeks to provide a high level of current income by investing primarily in preferred securities and other income-producing investments.

The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and other companies, corporate debt securities, and convertible securities. These investments can provide exposure to a range of industries and may include issuers based in the United States and other countries, subject to the fund’s investment policies.

John Hancock Preferred Income Fund III is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.