John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Stock Crosses Above 200-Day Moving Average – Here’s Why

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.18 and traded as high as $11.63. John Hancock Hedged Equity & Income Fund shares last traded at $11.43, with a volume of 36,154 shares changing hands.

John Hancock Hedged Equity & Income Fund Trading Down 1.3%

The business has a 50-day moving average price of $11.50 and a 200 day moving average price of $11.18.

John Hancock Hedged Equity & Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Bancorp bought a new position in shares of John Hancock Hedged Equity & Income Fund during the 1st quarter valued at approximately $47,000. PNC Financial Services Group Inc. bought a new stake in John Hancock Hedged Equity & Income Fund in the first quarter worth $109,000. XTX Topco Ltd bought a new stake in John Hancock Hedged Equity & Income Fund in the fourth quarter worth $144,000. B. Riley Wealth Advisors Inc. bought a new stake in John Hancock Hedged Equity & Income Fund in the second quarter worth $168,000. Finally, &PARTNERS bought a new stake in John Hancock Hedged Equity & Income Fund in the fourth quarter worth $174,000.

John Hancock Hedged Equity & Income Fund Company Profile

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.