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

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 35,900 shares, an increase of 131.6% from the September 30th total of 15,500 shares. Based on an average daily volume of 38,700 shares, the short-interest ratio is currently 0.9 days.

John Hancock Preferred Income Fund II Price Performance

Shares of HPF stock traded up $0.10 on Friday, hitting $18.50. 33,006 shares of the company’s stock were exchanged, compared to its average volume of 41,790. The company has a 50 day moving average of $17.88 and a 200 day moving average of $17.20. John Hancock Preferred Income Fund II has a 12 month low of $13.00 and a 12 month high of $19.00.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 11th will be paid a $0.1235 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.01%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC bought a new stake in shares of John Hancock Preferred Income Fund II during the first quarter worth $180,000. Wedbush Securities Inc. grew its position in John Hancock Preferred Income Fund II by 20.2% during the 2nd quarter. Wedbush Securities Inc. now owns 22,229 shares of the company’s stock worth $377,000 after acquiring an additional 3,729 shares during the last quarter. Simplicity Wealth LLC bought a new position in John Hancock Preferred Income Fund II in the second quarter valued at about $285,000. Commonwealth Equity Services LLC boosted its stake in shares of John Hancock Preferred Income Fund II by 5.4% during the second quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock valued at $1,104,000 after purchasing an additional 3,361 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of John Hancock Preferred Income Fund II by 5.5% during the first quarter. Private Advisor Group LLC now owns 21,297 shares of the company’s stock worth $352,000 after purchasing an additional 1,106 shares during the last quarter.

John Hancock Preferred Income Fund II Company Profile

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.