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

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.92 and traded as low as $15.91. John Hancock Preferred Income Fund II shares last traded at $15.92, with a volume of 29,159 shares trading hands.

John Hancock Preferred Income Fund II Stock Up 0.1%

The firm’s fifty day simple moving average is $15.92 and its 200-day simple moving average is $15.94.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be issued a dividend of $0.1235 per share. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Hedge funds have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new position in John Hancock Preferred Income Fund II in the 1st quarter valued at approximately $66,000. Kestra Advisory Services LLC increased its holdings in shares of John Hancock Preferred Income Fund II by 4.0% in the 1st quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock worth $1,084,000 after purchasing an additional 2,700 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of John Hancock Preferred Income Fund II by 73.1% in the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after purchasing an additional 102,627 shares in the last quarter. Royal Bank of Canada raised its stake in shares of John Hancock Preferred Income Fund II by 7.3% in the fourth quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock worth $488,000 after purchasing an additional 2,078 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of John Hancock Preferred Income Fund II in the fourth quarter worth $180,000.

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.