Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Increases By 10.1%

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 10,900 shares, a growth of 10.1% from the November 30th total of 9,900 shares. Based on an average daily volume of 37,600 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in John Hancock Preferred Income Fund II in the 3rd quarter worth approximately $33,000. Cornerstone Advisors LLC bought a new stake in John Hancock Preferred Income Fund II during the 3rd quarter valued at $69,000. Wedbush Securities Inc. boosted 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 valued at $377,000 after buying an additional 3,729 shares during the period. International Assets Investment Management LLC grew its holdings in John Hancock Preferred Income Fund II by 2,654.0% in the 3rd quarter. International Assets Investment Management LLC now owns 23,271 shares of the company’s stock worth $434,000 after acquiring an additional 22,426 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of John Hancock Preferred Income Fund II by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock valued at $1,104,000 after acquiring an additional 3,361 shares during the period.

John Hancock Preferred Income Fund II Price Performance

Shares of HPF traded up $0.12 during midday trading on Wednesday, reaching $16.55. The stock had a trading volume of 70,292 shares, compared to its average volume of 41,271. The company’s 50-day moving average is $17.24 and its 200 day moving average is $17.32. John Hancock Preferred Income Fund II has a 12-month low of $15.39 and a 12-month high of $19.00.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th were paid a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 8.95%. The ex-dividend date of this dividend was Thursday, December 12th.

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.