John Hancock Preferred Income Fund (HPI) to Issue Monthly Dividend of $0.12 on February 27th

John Hancock Preferred Income Fund (NYSE:HPI) declared a monthly dividend on Monday, February 2nd. Shareholders of record on Thursday, February 12th will be given a dividend of 0.1235 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Thursday, February 12th.

John Hancock Preferred Income Fund Stock Performance

Shares of NYSE HPI opened at $16.26 on Wednesday. John Hancock Preferred Income Fund has a one year low of $14.61 and a one year high of $17.78. The company’s fifty day moving average is $16.45 and its two-hundred day moving average is $16.63.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new stake in shares of John Hancock Preferred Income Fund in the 3rd quarter worth approximately $35,000. Allworth Financial LP boosted its position in John Hancock Preferred Income Fund by 181.9% during the second quarter. Allworth Financial LP now owns 4,237 shares of the company’s stock worth $68,000 after purchasing an additional 2,734 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in John Hancock Preferred Income Fund in the second quarter valued at $172,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of John Hancock Preferred Income Fund in the second quarter valued at $204,000. Finally, KPP Advisory Services LLC acquired a new position in shares of John Hancock Preferred Income Fund during the 2nd quarter worth $215,000.

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.