John Hancock Preferred Income Fund II (NYSE:HPF) Sees Large Growth in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 14,350 shares, a growth of 257.9% from the September 30th total of 4,009 shares. Based on an average daily volume of 90,264 shares, the days-to-cover ratio is presently 0.2 days.

John Hancock Preferred Income Fund II Stock Performance

HPF traded up $0.15 on Thursday, reaching $12.96. The company had a trading volume of 66,202 shares, compared to its average volume of 45,907. The company has a fifty day moving average of $14.14 and a 200-day moving average of $15.47. John Hancock Preferred Income Fund II has a one year low of $12.67 and a one year high of $16.84.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be paid a $0.1235 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date of this dividend is Tuesday, October 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in John Hancock Preferred Income Fund II in the second quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of John Hancock Preferred Income Fund II during the 3rd quarter valued at $27,000. William Mack & Associates Inc. acquired a new position in shares of John Hancock Preferred Income Fund II during the 3rd quarter valued at $53,000. Western Wealth Management LLC bought a new stake in shares of John Hancock Preferred Income Fund II in the 1st quarter worth $66,000. Finally, Arlington Capital Management Inc. bought a new stake in shares of John Hancock Preferred Income Fund II in the 2nd quarter worth $255,000.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II is a closed-end investment company listed on the New York Stock Exchange under the symbol HPF. The fund seeks to provide investors with a high level of current income while maintaining a focus on preserving capital.

The fund invests primarily in preferred securities, which may include preferred stocks and other income-producing securities issued by corporations and financial institutions. Its portfolio may also include debt securities and securities issued by companies in a range of industries and geographic markets.