1607 Capital Partners LLC Reduces Holdings in John Hancock Income Securities Trust $JHS

1607 Capital Partners LLC trimmed its stake in John Hancock Income Securities Trust (NYSE:JHS) by 10.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,160,052 shares of the financial services provider’s stock after selling 134,167 shares during the period. John Hancock Income Securities Trust accounts for approximately 0.9% of 1607 Capital Partners LLC’s portfolio, making the stock its 26th biggest position. 1607 Capital Partners LLC owned about 0.09% of John Hancock Income Securities Trust worth $13,584,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Baird Financial Group Inc. boosted its stake in John Hancock Income Securities Trust by 23.9% during the 2nd quarter. Baird Financial Group Inc. now owns 60,103 shares of the financial services provider’s stock worth $678,000 after purchasing an additional 11,587 shares during the period. Fiera Capital Corp boosted its stake in John Hancock Income Securities Trust by 16.1% during the 3rd quarter. Fiera Capital Corp now owns 78,037 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 10,836 shares during the period. Prestige Wealth Management Group LLC acquired a new stake in John Hancock Income Securities Trust during the 3rd quarter worth $42,000. Cary Street Partners Financial LLC boosted its stake in John Hancock Income Securities Trust by 42.7% during the 3rd quarter. Cary Street Partners Financial LLC now owns 47,622 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 14,239 shares during the period. Finally, Riverbridge Partners LLC boosted its stake in John Hancock Income Securities Trust by 158.3% during the 4th quarter. Riverbridge Partners LLC now owns 193,055 shares of the financial services provider’s stock worth $2,261,000 after purchasing an additional 118,311 shares during the period.

John Hancock Income Securities Trust Trading Down 0.1%

Shares of NYSE:JHS opened at $10.95 on Thursday. The firm has a fifty day moving average price of $11.11 and a 200 day moving average price of $11.36. John Hancock Income Securities Trust has a 1-year low of $10.74 and a 1-year high of $12.09.

John Hancock Income Securities Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be paid a dividend of $0.1535 per share. The ex-dividend date is Thursday, June 11th. This represents a $0.61 dividend on an annualized basis and a yield of 5.6%. This is an increase from John Hancock Income Securities Trust’s previous quarterly dividend of $0.14.

John Hancock Income Securities Trust Company Profile

John Hancock Income Securities Trust (NYSE: JHS) is a diversified, closed-end management investment company that seeks to provide shareholders with high current income while preserving capital. Trading on the New York Stock Exchange since its launch in the late 1970s, the trust offers investors access to a broad portfolio of fixed-income securities under a professional management structure.

The fund’s primary investment activities include purchasing U.S. government and agency obligations, investment-grade corporate debt, mortgage- and asset-backed securities, preferred stocks, and selected foreign debt instruments.