John Hancock Preferred Income Fund III (NYSE:HPS) Plans Monthly Dividend of $0.11

John Hancock Preferred Income Fund III (NYSE:HPS) declared a monthly dividend on Monday, November 2nd. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.11 per share on Monday, November 30th. This represents a $1.32 annualized dividend and a dividend yield of 11.2%. The ex-dividend date is Thursday, November 12th.

John Hancock Preferred Income Fund III Price Performance

Shares of NYSE HPS opened at $11.76 on Tuesday. John Hancock Preferred Income Fund III has a 1-year low of $11.39 and a 1-year high of $15.54. The stock’s 50-day moving average is $12.50 and its 200 day moving average is $13.98.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HPS. B. Riley Wealth Advisors Inc. grew its holdings in shares of John Hancock Preferred Income Fund III by 9.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 12,334 shares of the company’s stock valued at $148,000 after purchasing an additional 1,039 shares during the last quarter. Janney Montgomery Scott LLC raised its position 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 purchasing an additional 1,987 shares during the period. Focus Financial Network Inc. lifted its stake 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 purchasing an additional 2,260 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in John Hancock Preferred Income Fund III in the second quarter worth $38,000. Finally, NewEdge Advisors LLC lifted its stake in John Hancock Preferred Income Fund III by 17.9% in the second quarter. NewEdge Advisors LLC now owns 20,757 shares of the company’s stock worth $302,000 after purchasing an additional 3,157 shares during the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed-end investment company listed on the New York Stock Exchange under the ticker symbol HPS. The fund seeks to provide shareholders with 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, corporate debt securities and other fixed-income instruments issued by companies in a range of industries. Preferred securities generally have characteristics of both stocks and bonds, providing income while ranking ahead of common equity in a company’s capital structure but behind its debt obligations.

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