John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Passes Below 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.62 and traded as low as $14.51. John Hancock Preferred Income Fund III shares last traded at $14.57, with a volume of 54,088 shares changing hands.

John Hancock Preferred Income Fund III Stock Performance

The stock’s 50 day moving average price is $14.62 and its 200-day moving average price is $14.84.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 12th will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, January 12th. This represents a c) dividend on an annualized basis and a yield of 9.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of John Hancock Preferred Income Fund III by 11.4% during the 1st quarter. Royal Bank of Canada now owns 51,471 shares of the company’s stock worth $772,000 after purchasing an additional 5,264 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of John Hancock Preferred Income Fund III during the second quarter valued at about $326,000. Fifth Third Bancorp purchased a new stake in shares of John Hancock Preferred Income Fund III during the second quarter valued at about $72,000. Ameritas Advisory Services LLC bought a new stake in shares of John Hancock Preferred Income Fund III in the 2nd quarter valued at about $52,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of John Hancock Preferred Income Fund III in the 2nd quarter worth approximately $59,000.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.