John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Crosses Above Fifty Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $14.52 and traded as high as $14.62. John Hancock Preferred Income Fund III shares last traded at $14.4550, with a volume of 48,514 shares traded.

John Hancock Preferred Income Fund III Stock Performance

The stock’s 50 day moving average price is $14.52 and its 200-day moving average price is $14.53.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, June 11th. This represents a c) dividend on an annualized basis and a yield of 9.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new position in shares of John Hancock Preferred Income Fund III in the 1st quarter worth $459,000. Royal Bank of Canada boosted its position in John Hancock Preferred Income Fund III by 2.1% during the first quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after purchasing an additional 3,323 shares in the last quarter. Fifth Third Bancorp bought a new stake in John Hancock Preferred Income Fund III during the first quarter valued at about $92,000. Janney Montgomery Scott LLC grew its stake in John Hancock Preferred Income Fund III by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock valued at $316,000 after purchasing an additional 1,987 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its stake in John Hancock Preferred Income Fund III by 3.4% in the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock valued at $368,000 after purchasing 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.