John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Short Interest Down 87.2% in February

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) was the target of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 1,303 shares, a drop of 87.2% from the January 29th total of 10,194 shares. Based on an average daily trading volume, of 37,792 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 37,792 shares, the days-to-cover ratio is currently 0.0 days.

John Hancock Hedged Equity & Income Fund Price Performance

Shares of HEQ stock traded down $0.06 on Thursday, hitting $11.51. The stock had a trading volume of 19,967 shares, compared to its average volume of 48,983. John Hancock Hedged Equity & Income Fund has a twelve month low of $9.23 and a twelve month high of $11.58. The company has a fifty day moving average price of $11.06 and a two-hundred day moving average price of $10.84.

John Hancock Hedged Equity & Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $1.00 dividend on an annualized basis and a yield of 8.7%.

Hedge Funds Weigh In On John Hancock Hedged Equity & Income Fund

A number of institutional investors have recently added to or reduced their stakes in HEQ. Bulldog Investors LLP bought a new position in John Hancock Hedged Equity & Income Fund during the fourth quarter worth about $4,104,000. Sax Wealth Advisors LLC bought a new position in shares of John Hancock Hedged Equity & Income Fund during the fourth quarter worth approximately $365,000. Kovack Advisors Inc. raised its position in shares of John Hancock Hedged Equity & Income Fund by 130.9% in the fourth quarter. Kovack Advisors Inc. now owns 53,236 shares of the investment management company’s stock valued at $543,000 after buying an additional 30,176 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of John Hancock Hedged Equity & Income Fund by 11.7% in the second quarter. Bank of America Corp DE now owns 288,281 shares of the investment management company’s stock valued at $3,050,000 after buying an additional 30,102 shares during the period. Finally, Saba Capital Management L.P. raised its stake in John Hancock Hedged Equity & Income Fund by 11.0% in the fourth quarter. Saba Capital Management L.P. now owns 281,328 shares of the investment management company’s stock valued at $3,024,000 after purchasing an additional 27,958 shares in the last quarter.

About John Hancock Hedged Equity & Income Fund

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.