Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Increases By 25.2%

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 118,024 shares, an increase of 25.2% from the February 26th total of 94,284 shares. Based on an average daily trading volume, of 49,670 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several large investors have recently modified their holdings of the stock. Albion Financial Group UT acquired a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter worth approximately $1,072,000. 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 during the period. Guggenheim Capital LLC boosted its stake in 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 valued at $2,500,000 after buying an additional 62,819 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in John Hancock Preferred Income Fund III by 10.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 60,647 shares of the company’s stock valued at $874,000 after buying an additional 5,770 shares in the last quarter. Finally, Fiera Capital Corp grew its position in John Hancock Preferred Income Fund III by 18.1% in the fourth quarter. Fiera Capital Corp now owns 115,546 shares of the company’s stock valued at $1,665,000 after acquiring an additional 17,726 shares during the period.

John Hancock Preferred Income Fund III Price Performance

Shares of John Hancock Preferred Income Fund III stock traded down $0.09 during trading on Monday, hitting $13.83. 73,532 shares of the company’s stock traded hands, compared to its average volume of 60,219. The firm’s fifty day moving average price is $14.58 and its 200 day moving average price is $14.85. John Hancock Preferred Income Fund III has a twelve month low of $13.08 and a twelve month high of $15.68.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 9.5%.

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.