Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Grows By 210.4%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 101,001 shares, a growth of 210.4% from the August 15th total of 32,536 shares. Based on an average daily trading volume, of 37,821 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Eldridge Investment Advisors Inc. raised its stake in John Hancock Preferred Income ETF by 6.8% during the 4th quarter. Eldridge Investment Advisors Inc. now owns 540,006 shares of the company’s stock worth $12,332,000 after acquiring an additional 34,614 shares during the period. Granite Bay Wealth Management LLC increased its position in John Hancock Preferred Income ETF by 6.0% in the first quarter. Granite Bay Wealth Management LLC now owns 815,457 shares of the company’s stock worth $18,398,000 after purchasing an additional 46,328 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of John Hancock Preferred Income ETF by 13.2% in the 1st quarter. Bank of America Corp DE now owns 289,784 shares of the company’s stock worth $6,543,000 after buying an additional 33,819 shares during the last quarter. BDFS Capital LLC bought a new stake in John Hancock Preferred Income ETF during the fourth quarter worth approximately $3,362,000. Finally, IFS Group LLC bought a new position in shares of John Hancock Preferred Income ETF during the 1st quarter valued at approximately $823,000.

John Hancock Preferred Income ETF Price Performance

John Hancock Preferred Income ETF stock traded up $0.01 during midday trading on Friday, reaching $22.25. 76,283 shares of the company traded hands, compared to its average volume of 48,615. John Hancock Preferred Income ETF has a 12 month low of $22.15 and a 12 month high of $23.56. The firm has a market capitalization of $209.15 million, a price-to-earnings ratio of 60.41 and a beta of 0.37. The business has a 50 day moving average of $22.57 and a two-hundred day moving average of $22.78.

John Hancock Preferred Income ETF Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 29th were given a dividend of $0.1434 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Wednesday, July 29th. This is an increase from John Hancock Preferred Income ETF’s previous monthly dividend of $0.12.

John Hancock Preferred Income ETF Company Profile

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.