John Hancock Preferred Income Fund II (NYSE:HPF) Sees Significant Drop in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 4,009 shares, a drop of 92.3% from the September 15th total of 52,131 shares. Based on an average daily trading volume, of 102,192 shares, the days-to-cover ratio is currently 0.0 days.

John Hancock Preferred Income Fund II Price Performance

John Hancock Preferred Income Fund II stock traded up $0.19 during trading hours on Friday, hitting $13.41. The company had a trading volume of 87,887 shares, compared to its average volume of 42,858. John Hancock Preferred Income Fund II has a 1 year low of $13.09 and a 1 year high of $17.06. The company has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $15.51.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be paid a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend is Tuesday, October 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in John Hancock Preferred Income Fund II during the 2nd quarter valued at $26,000. Western Wealth Management LLC bought a new position in shares of John Hancock Preferred Income Fund II during the 1st quarter worth $66,000. Arlington Capital Management Inc. bought a new position in shares of John Hancock Preferred Income Fund II during the 2nd quarter worth $255,000. Ameritas Advisory Services LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the second quarter valued at $384,000. Finally, Kestra Advisory Services LLC increased its stake in shares of John Hancock Preferred Income Fund II by 4.0% during the first quarter. Kestra Advisory Services LLC now owns 69,444 shares of the company’s stock valued at $1,084,000 after buying an additional 2,700 shares during the period.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end fund managed by John Hancock Investment Management. The fund seeks to provide investors with a high level of current income, with capital appreciation as a secondary objective.

The fund invests primarily in preferred securities issued by corporations and financial institutions. Its portfolio may also include other income-producing investments, such as corporate debt securities and securities issued by government-related entities.