John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $16.03 and traded as low as $15.25. John Hancock Preferred Income Fund II shares last traded at $15.29, with a volume of 44,337 shares.

John Hancock Preferred Income Fund II Stock Performance

The stock’s 50-day moving average price is $16.00 and its 200-day moving average price is $16.31.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a c) annualized dividend and a yield of 9.6%.

Institutional Inflows and Outflows

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

John Hancock Preferred Income Fund II Company Profile

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.