John Hancock Preferred Income Fund (HPI) to Issue Monthly Dividend of $0.12 on January 30th

John Hancock Preferred Income Fund (NYSE:HPI) declared a monthly dividend on Friday, December 19th. Shareholders of record on Monday, December 29th will be given a dividend of 0.1235 per share on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Monday, December 29th.

John Hancock Preferred Income Fund Stock Performance

Shares of HPI opened at $16.38 on Friday. John Hancock Preferred Income Fund has a fifty-two week low of $14.61 and a fifty-two week high of $17.78. The firm has a 50 day moving average price of $16.93 and a 200-day moving average price of $16.57.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC boosted its stake in John Hancock Preferred Income Fund by 4.4% during the third quarter. Private Advisor Group LLC now owns 15,440 shares of the company’s stock worth $268,000 after acquiring an additional 651 shares in the last quarter. Mallini Complete Financial Planning LLC increased its stake in shares of John Hancock Preferred Income Fund by 4.1% during the third quarter. Mallini Complete Financial Planning LLC now owns 17,669 shares of the company’s stock valued at $307,000 after purchasing an additional 689 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of John Hancock Preferred Income Fund by 3.7% during the third quarter. NewEdge Advisors LLC now owns 20,851 shares of the company’s stock valued at $362,000 after purchasing an additional 742 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of John Hancock Preferred Income Fund by 3.2% during the third quarter. Envestnet Asset Management Inc. now owns 32,339 shares of the company’s stock valued at $561,000 after purchasing an additional 998 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of John Hancock Preferred Income Fund by 3.6% in the 2nd quarter. Osaic Holdings Inc. now owns 44,486 shares of the company’s stock worth $711,000 after purchasing an additional 1,549 shares in the last quarter.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund (NYSE: HPI) is a closed-end management investment company structured as a statutory trust under the Investment Company Act of 1940. The fund’s primary objective is to provide high current income with growth of capital as a secondary goal. It pursues this objective principally through investments in preferred securities, debt instruments and, to a lesser extent, equity securities.

The fund focuses on preferred stocks issued by U.S. and foreign issuers across a variety of industries, including financials, utilities and industrials.