John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Update

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 82,586 shares, a growth of 150.1% from the April 30th total of 33,023 shares. Based on an average daily trading volume, of 35,684 shares, the days-to-cover ratio is presently 2.3 days.

John Hancock Preferred Income Fund II Price Performance

HPF stock opened at $16.18 on Friday. John Hancock Preferred Income Fund II has a twelve month low of $15.06 and a twelve month high of $17.13. The firm has a 50 day simple moving average of $15.79 and a 200-day simple moving average of $16.03.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 11th were given a dividend of $0.1235 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%.

Institutional Trading of John Hancock Preferred Income Fund II

Hedge funds have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new stake in shares of John Hancock Preferred Income Fund II during the first quarter worth approximately $66,000. Jane Street Group LLC acquired a new stake in shares of John Hancock Preferred Income Fund II during the fourth quarter worth approximately $180,000. Readystate Asset Management LP acquired a new stake in shares of John Hancock Preferred Income Fund II during the third quarter worth approximately $195,000. Kestra Private Wealth Services LLC acquired a new stake in shares of John Hancock Preferred Income Fund II during the fourth quarter worth approximately $322,000. Finally, NewEdge Advisors LLC grew its position in shares of John Hancock Preferred Income Fund II by 4.0% during the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after buying an additional 770 shares in the last quarter.

John Hancock Preferred Income Fund II Company Profile

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.