John Hancock Preferred Income Fund (NYSE:HPI) Stock Price Passes Below 50 Day Moving Average of $16.30

John Hancock Preferred Income Fund (NYSE:HPI) shares passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $16.30 and traded as low as $16.24. John Hancock Preferred Income Fund shares last traded at $16.24, with a volume of 54,763 shares traded.

John Hancock Preferred Income Fund Price Performance

The firm’s 50-day moving average is $16.30 and its two-hundred day moving average is $15.51.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, April 11th were paid a $0.1235 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date was Wednesday, April 10th.

Institutional Trading of John Hancock Preferred Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in John Hancock Preferred Income Fund in the fourth quarter worth about $27,000. CWM LLC purchased a new stake in John Hancock Preferred Income Fund in the first quarter worth about $58,000. International Assets Investment Management LLC purchased a new stake in John Hancock Preferred Income Fund in the fourth quarter worth about $236,000. B. Riley Wealth Advisors Inc. lifted its stake in John Hancock Preferred Income Fund by 8.2% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 18,451 shares of the company’s stock worth $293,000 after acquiring an additional 1,391 shares during the period. Finally, Private Advisor Group LLC lifted its stake in John Hancock Preferred Income Fund by 6.7% in the fourth quarter. Private Advisor Group LLC now owns 19,878 shares of the company’s stock worth $314,000 after acquiring an additional 1,246 shares during the period.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.