John Hancock Preferred Income Fund II (NYSE:HPF) Director Acquires $12,000.72 in Stock

John Hancock Preferred Income Fund II (NYSE:HPF) Director Christine Hurtsellers purchased 744 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $16.13 per share, for a total transaction of $12,000.72. Following the acquisition, the director directly owned 744 shares in the company, valued at $12,000.72. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

John Hancock Preferred Income Fund II Price Performance

NYSE HPF traded down $0.01 on Thursday, hitting $16.15. 26,548 shares of the stock traded hands, compared to its average volume of 38,226. The business’s fifty day moving average is $15.79 and its two-hundred day moving average is $16.10. John Hancock Preferred Income Fund II has a 12 month low of $15.06 and a 12 month high of $17.13.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 11th will be given a $0.1235 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC raised its position in shares of John Hancock Preferred Income Fund II by 4.0% in the first quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock worth $1,084,000 after buying an additional 2,700 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of John Hancock Preferred Income Fund II by 73.1% in the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock valued at $3,905,000 after acquiring an additional 102,627 shares in the last quarter. Royal Bank of Canada boosted its position in shares of John Hancock Preferred Income Fund II by 7.3% during the 4th quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock valued at $488,000 after acquiring an additional 2,078 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the fourth quarter worth about $180,000. Finally, Wedbush Securities Inc. increased its position in shares of John Hancock Preferred Income Fund II by 6.4% in the fourth quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock worth $404,000 after purchasing an additional 1,512 shares during the last quarter.

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.