John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 43,833 shares, a growth of 322.8% from the January 15th total of 10,367 shares. Based on an average daily volume of 58,417 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 58,417 shares, the short-interest ratio is presently 0.8 days.

John Hancock Preferred Income Fund III Stock Performance

Shares of HPS traded up $0.06 during trading hours on Friday, hitting $14.74. The stock had a trading volume of 29,174 shares, compared to its average volume of 62,671. John Hancock Preferred Income Fund III has a 1-year low of $13.08 and a 1-year high of $15.68. The firm has a 50 day simple moving average of $14.54 and a 200-day simple moving average of $14.88.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 12th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a c) annualized dividend and a yield of 9.0%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HPS. Royal Bank of Canada raised its stake in shares of John Hancock Preferred Income Fund III by 11.4% in the first quarter. Royal Bank of Canada now owns 51,471 shares of the company’s stock worth $772,000 after purchasing an additional 5,264 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at about $59,000. Cetera Investment Advisers lifted its position in shares of John Hancock Preferred Income Fund III by 3.1% during the 2nd quarter. Cetera Investment Advisers now owns 140,155 shares of the company’s stock worth $1,999,000 after buying an additional 4,194 shares in the last quarter. Invesco Ltd. lifted its position in shares of John Hancock Preferred Income Fund III by 6.2% during the 2nd quarter. Invesco Ltd. now owns 235,960 shares of the company’s stock worth $3,365,000 after buying an additional 13,710 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of John Hancock Preferred Income Fund III by 55.8% in the 2nd quarter. Guggenheim Capital LLC now owns 175,335 shares of the company’s stock worth $2,500,000 after buying an additional 62,819 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.