John Hancock Preferred Income Fund III (NYSE:HPS) Shares Pass Below Fifty Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.52 and traded as low as $14.29. John Hancock Preferred Income Fund III shares last traded at $14.3250, with a volume of 53,052 shares trading hands.

John Hancock Preferred Income Fund III Trading Down 0.4%

The stock’s 50 day simple moving average is $14.52 and its 200 day simple moving average is $14.55.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC bought a new position in John Hancock Preferred Income Fund III during the 1st quarter valued at $459,000. Royal Bank of Canada boosted its stake in John Hancock Preferred Income Fund III by 2.1% during the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after acquiring an additional 3,323 shares during the last quarter. Fifth Third Bancorp bought a new position in John Hancock Preferred Income Fund III during the 1st quarter valued at $92,000. Janney Montgomery Scott LLC boosted its stake in John Hancock Preferred Income Fund III by 9.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock valued at $316,000 after acquiring an additional 1,987 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its stake in John Hancock Preferred Income Fund III by 3.4% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock valued at $368,000 after acquiring an additional 844 shares during the last quarter.

About John Hancock Preferred Income Fund III

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.