Insider Buying: John Hancock Preferred Income Fund III (NYSE:HPS) Director Buys $10,005.95 in Stock

John Hancock Preferred Income Fund III (NYSE:HPS) Director Kenneth Phelan purchased 683 shares of the stock in a transaction dated Monday, January 26th. The stock was bought at an average cost of $14.65 per share, with a total value of $10,005.95. Following the transaction, the director owned 683 shares in the company, valued at $10,005.95. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

John Hancock Preferred Income Fund III Price Performance

Shares of HPS stock opened at $14.62 on Friday. John Hancock Preferred Income Fund III has a one year low of $13.08 and a one year high of $15.68. The company’s 50-day moving average is $14.58 and its 200 day moving average is $14.84.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 12th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a c) annualized dividend and a dividend yield of 9.0%.

Institutional Trading of John Hancock Preferred Income Fund III

A number of institutional investors and hedge funds have recently modified their holdings of HPS. Royal Bank of Canada raised its stake in shares of John Hancock Preferred Income Fund III by 11.4% in the first 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 position in John Hancock Preferred Income Fund III in the 2nd quarter worth about $326,000. Fifth Third Bancorp purchased a new stake in shares of John Hancock Preferred Income Fund III during the 2nd 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 second quarter worth approximately $52,000. Finally, Wolverine Asset Management LLC purchased a new position in shares of John Hancock Preferred Income Fund III during the second quarter valued at approximately $59,000.

About John Hancock Preferred Income Fund III

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.