John Hancock Preferred Income Fund II (NYSE:HPF) Stock Crosses Above 50 Day Moving Average – What’s Next?

John Hancock Preferred Income Fund II (NYSE:HPF) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.91 and traded as high as $15.98. John Hancock Preferred Income Fund II shares last traded at $15.9450, with a volume of 23,046 shares trading hands.

John Hancock Preferred Income Fund II Trading Up 0.5%

The stock has a 50-day moving average price of $15.91 and a two-hundred day moving average price of $15.94.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be paid a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

Several institutional investors have recently made changes to their positions in the company. UBS Group AG increased its stake in shares of John Hancock Preferred Income Fund II by 6.4% in the fourth quarter. UBS Group AG now owns 361,631 shares of the company’s stock worth $5,811,000 after acquiring an additional 21,636 shares during the period. Guggenheim Capital LLC boosted its holdings in John Hancock Preferred Income Fund II by 73.1% in the fourth quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock valued at $3,905,000 after purchasing an additional 102,627 shares during the last quarter. Invesco Ltd. boosted its holdings in John Hancock Preferred Income Fund II by 14.8% in the third quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock valued at $3,083,000 after purchasing an additional 23,622 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in John Hancock Preferred Income Fund II by 1.0% in the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after purchasing an additional 1,463 shares during the last quarter. Finally, LPL Financial LLC grew its position in John Hancock Preferred Income Fund II by 23.0% during the 4th quarter. LPL Financial LLC now owns 95,557 shares of the company’s stock worth $1,536,000 after purchasing an additional 17,847 shares during the period.

John Hancock Preferred Income Fund II Company Profile

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.