John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund III (NYSE:HPS) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $14.38 and traded as high as $14.44. John Hancock Preferred Income Fund III shares last traded at $14.3850, with a volume of 136,883 shares.

John Hancock Preferred Income Fund III Trading Up 0.7%

The business has a 50-day moving average price of $14.38 and a 200-day moving average price of $14.49.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Thursday, August 13th will be paid a dividend of $0.11 per share. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date is Thursday, August 13th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Focus Financial Network Inc. boosted its holdings in John Hancock Preferred Income Fund III by 18.1% in the second quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock worth $215,000 after acquiring an additional 2,260 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of John Hancock Preferred Income Fund III during the first quarter worth about $459,000. Royal Bank of Canada increased its holdings in shares of John Hancock Preferred Income Fund III by 2.1% during the first quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after acquiring an additional 3,323 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of John Hancock Preferred Income Fund III during the first quarter valued at about $92,000. Finally, Janney Montgomery Scott LLC raised its position in shares of John Hancock Preferred Income Fund III by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock valued at $316,000 after purchasing an additional 1,987 shares during the last quarter.

John Hancock Preferred Income Fund III Company Profile

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.