John Hancock Preferred Income Fund II (NYSE:HPF) Shares Pass Below 50 Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.19 and traded as low as $16.00. John Hancock Preferred Income Fund II shares last traded at $16.0450, with a volume of 77,192 shares.

John Hancock Preferred Income Fund II Stock Down 0.5%

The business’s 50 day moving average is $16.19 and its 200 day moving average is $16.32.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 12th will be given a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Monday, January 12th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new position in John Hancock Preferred Income Fund II in the second quarter worth about $69,000. Ameritas Advisory Services LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the 2nd quarter worth approximately $104,000. Wolverine Asset Management LLC bought a new position in shares of John Hancock Preferred Income Fund II during the 2nd quarter worth approximately $112,000. Readystate Asset Management LP purchased a new stake in John Hancock Preferred Income Fund II during the third quarter valued at approximately $195,000. Finally, Spire Wealth Management lifted its position in John Hancock Preferred Income Fund II by 25.0% during the third quarter. Spire Wealth Management now owns 12,384 shares of the company’s stock valued at $209,000 after acquiring an additional 2,478 shares during the last quarter.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.