Raymond James & Associates Cuts Stock Holdings in John Hancock Preferred Income Fund II (NYSE:HPF)

Raymond James & Associates reduced its stake in shares of John Hancock Preferred Income Fund II (NYSE:HPF) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,239 shares of the company’s stock after selling 4,742 shares during the quarter. Raymond James & Associates’ holdings in John Hancock Preferred Income Fund II were worth $193,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of HPF. Anchor Investment Management LLC bought a new position in shares of John Hancock Preferred Income Fund II in the fourth quarter worth approximately $33,000. Wolverine Asset Management LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the third quarter valued at about $25,000. UBS Group AG raised its stake in shares of John Hancock Preferred Income Fund II by 5.6% during the third quarter. UBS Group AG now owns 202,650 shares of the company’s stock valued at $2,932,000 after acquiring an additional 10,761 shares during the last quarter. Selway Asset Management purchased a new stake in shares of John Hancock Preferred Income Fund II during the third quarter worth about $129,000. Finally, Golden Green Inc. grew its stake in shares of John Hancock Preferred Income Fund II by 2.5% in the third quarter. Golden Green Inc. now owns 40,524 shares of the company’s stock worth $586,000 after purchasing an additional 979 shares during the last quarter.

John Hancock Preferred Income Fund II Stock Performance

Shares of NYSE:HPF opened at $16.51 on Thursday. John Hancock Preferred Income Fund II has a 1 year low of $12.99 and a 1 year high of $16.94. The stock’s 50-day moving average is $16.38 and its 200 day moving average is $15.69.

John Hancock Preferred Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, April 11th were issued a dividend of $0.1235 per share. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.98%.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.