John Hancock Preferred Income Fund III (NYSE:HPS) Stock Crosses Below 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS) crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $12.88 and traded as low as $11.62. John Hancock Preferred Income Fund III shares last traded at $11.67, with a volume of 115,485 shares.

John Hancock Preferred Income Fund III Trading Down 0.1%

The business has a 50-day simple moving average of $12.82 and a 200-day simple moving average of $13.88.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 11.4%. The ex-dividend date of this dividend is Tuesday, October 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HPS. Royal Bank of Canada grew its stake in John Hancock Preferred Income Fund III by 2.1% in the 1st 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 during the period. Shaker Financial Services LLC purchased a new stake in John Hancock Preferred Income Fund III in the 3rd quarter worth $1,097,000. Western Wealth Management LLC purchased a new stake in John Hancock Preferred Income Fund III in the 1st quarter worth $459,000. Janney Montgomery Scott LLC increased its holdings in 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 worth $316,000 after acquiring an additional 1,987 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in John Hancock Preferred Income Fund III by 17.9% during the second quarter. NewEdge Advisors LLC now owns 20,757 shares of the company’s stock worth $302,000 after acquiring an additional 3,157 shares during the period.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed-end investment fund listed on the New York Stock Exchange under the symbol HPS. The fund seeks to provide a high level of current income by investing primarily in preferred securities and other income-producing investments.

The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and other companies, corporate debt securities, and convertible securities. These investments can provide exposure to a range of industries and may include issuers based in the United States and other countries, subject to the fund’s investment policies.

John Hancock Preferred Income Fund III is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.