John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Passes Below 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.49 and traded as low as $14.30. John Hancock Preferred Income Fund III shares last traded at $14.38, with a volume of 56,267 shares.

John Hancock Preferred Income Fund III Trading Up 0.2%

The company has a fifty day moving average price of $14.49 and a 200-day moving average price of $14.52.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 13th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a c) dividend on an annualized basis and a yield of 9.2%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several institutional investors have recently bought and sold shares of the business. UBS Group AG lifted its stake in shares of John Hancock Preferred Income Fund III by 10.8% in the 3rd quarter. UBS Group AG now owns 1,141,593 shares of the company’s stock valued at $17,626,000 after purchasing an additional 111,560 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of John Hancock Preferred Income Fund III by 13.7% in the 3rd quarter. Invesco Ltd. now owns 268,253 shares of the company’s stock worth $4,142,000 after purchasing an additional 32,293 shares during the period. Western Wealth Management LLC bought a new position in shares of John Hancock Preferred Income Fund III during the 1st quarter valued at approximately $459,000. Readystate Asset Management LP bought a new position in shares of John Hancock Preferred Income Fund III during the 4th quarter valued at approximately $419,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of John Hancock Preferred Income Fund III during the 2nd quarter valued at approximately $395,000.

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.