John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Shares of John Hancock Preferred Income Fund II (NYSE:HPF) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $15.77 and traded as high as $15.85. John Hancock Preferred Income Fund II shares last traded at $15.70, with a volume of 38,700 shares changing hands.

John Hancock Preferred Income Fund II Stock Performance

The company has a 50-day moving average of $15.77 and a 200-day moving average of $16.07.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 11th will be given a dividend of $0.1235 per share. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Monday, May 11th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG raised its position in shares of John Hancock Preferred Income Fund II by 6.4% during the 4th quarter. UBS Group AG now owns 361,631 shares of the company’s stock valued at $5,811,000 after acquiring an additional 21,636 shares in the last quarter. Axim Planning & Wealth raised its position in shares of John Hancock Preferred Income Fund II by 3.3% during the 3rd quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock valued at $5,608,000 after acquiring an additional 10,752 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of John Hancock Preferred Income Fund II by 73.1% during 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. Invesco Ltd. raised its position in shares of John Hancock Preferred Income Fund II by 14.8% during the 3rd quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock valued at $3,083,000 after acquiring an additional 23,622 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of John Hancock Preferred Income Fund II by 1.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after acquiring an additional 1,463 shares in the last quarter.

About John Hancock Preferred Income Fund II

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.