John Hancock Preferred Income Fund (NYSE:HPI) Announces Monthly Dividend of $0.12

John Hancock Preferred Income Fund (NYSE:HPI) declared a monthly dividend on Tuesday, June 3rd, Wall Street Journal reports. Shareholders of record on Thursday, June 12th will be paid a dividend of 0.1235 per share on Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.20%. The ex-dividend date is Thursday, June 12th.

John Hancock Preferred Income Fund Trading Up 0.3%

Shares of John Hancock Preferred Income Fund stock opened at $16.10 on Tuesday. John Hancock Preferred Income Fund has a 12-month low of $14.61 and a 12-month high of $19.43. The company has a 50-day simple moving average of $15.77 and a 200 day simple moving average of $16.58.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in John Hancock Preferred Income Fund stock. Royal Bank of Canada increased its position in shares of John Hancock Preferred Income Fund (NYSE:HPI) by 0.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 567,767 shares of the company’s stock after acquiring an additional 1,753 shares during the quarter. Royal Bank of Canada’s holdings in John Hancock Preferred Income Fund were worth $9,419,000 at the end of the most recent quarter.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.