John Hancock Preferred Income Fund II (NYSE:HPF) Sees Significant Increase in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 31,422 shares, a growth of 290.3% from the February 26th total of 8,051 shares. Based on an average daily volume of 47,356 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 47,356 shares, the days-to-cover ratio is currently 0.7 days.

John Hancock Preferred Income Fund II Price Performance

John Hancock Preferred Income Fund II stock opened at $15.29 on Wednesday. The firm has a 50 day simple moving average of $16.03 and a 200-day simple moving average of $16.32. John Hancock Preferred Income Fund II has a 1-year low of $14.56 and a 1-year high of $17.13.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be given a $0.1235 dividend. This represents a c) annualized dividend and a yield of 9.7%. The ex-dividend date is Thursday, March 12th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HPF. Guggenheim Capital LLC lifted its stake in shares of John Hancock Preferred Income Fund II by 73.1% in the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock valued at $3,905,000 after purchasing an additional 102,627 shares during the last quarter. Royal Bank of Canada increased its position in shares of John Hancock Preferred Income Fund II by 7.3% during the 4th quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock worth $488,000 after purchasing an additional 2,078 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of John Hancock Preferred Income Fund II by 57.5% during the 4th quarter. Kestra Advisory Services LLC now owns 66,744 shares of the company’s stock worth $1,073,000 after purchasing an additional 24,354 shares during the last quarter. Jane Street Group LLC purchased a new stake in John Hancock Preferred Income Fund II in the 4th quarter valued at about $180,000. Finally, Wedbush Securities Inc. raised its holdings in John Hancock Preferred Income Fund II by 6.4% in the 4th quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock valued at $404,000 after buying an additional 1,512 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.