John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Passes Above 50 Day Moving Average – Here’s Why

John Hancock Preferred Income Fund III (NYSE:HPS)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.52 and traded as high as $14.55. John Hancock Preferred Income Fund III shares last traded at $14.5310, with a volume of 51,908 shares changing hands.

John Hancock Preferred Income Fund III Price Performance

The company has a 50-day moving average of $14.52 and a 200-day moving average of $14.51.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be paid a $0.11 dividend. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Monday, July 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Large investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in John Hancock Preferred Income Fund III by 0.6% in the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock worth $2,284,000 after acquiring an additional 898 shares in the last quarter. Invesco Ltd. raised its position in John Hancock Preferred Income Fund III by 6.2% during the second quarter. Invesco Ltd. now owns 235,960 shares of the company’s stock worth $3,365,000 after acquiring an additional 13,710 shares during the last quarter. LPL Financial LLC lifted its stake in John Hancock Preferred Income Fund III by 0.7% in the 4th quarter. LPL Financial LLC now owns 296,324 shares of the company’s stock valued at $4,270,000 after buying an additional 2,126 shares in the last quarter. UBS Group AG lifted its position in shares of John Hancock Preferred Income Fund III by 10.8% in the third quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock valued at $17,626,000 after acquiring an additional 111,560 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in John Hancock Preferred Income Fund III by 2.5% in the 4th quarter. Royal Bank of Canada now owns 161,596 shares of the company’s stock valued at $2,329,000 after purchasing an additional 4,002 shares in the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.