John Hancock Preferred Income Fund III (NYSE:HPS) Shares Pass Below Fifty Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.52 and traded as low as $14.29. John Hancock Preferred Income Fund III shares last traded at $14.3250, with a volume of 53,052 shares trading hands.

John Hancock Preferred Income Fund III Price Performance

The stock’s 50-day moving average price is $14.52 and its 200-day moving average price is $14.55.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be given a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its position in shares of John Hancock Preferred Income Fund III by 2,816.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,071 shares of the company’s stock worth $30,000 after buying an additional 2,000 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of John Hancock Preferred Income Fund III in the 4th quarter worth about $92,000. Fifth Third Bancorp bought a new position in shares of John Hancock Preferred Income Fund III in the 1st quarter worth about $92,000. Cherry Creek Investment Advisors Inc. bought a new position in shares of John Hancock Preferred Income Fund III in the 4th quarter worth about $144,000. Finally, Stratos Wealth Partners LTD. bought a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter worth about $159,000.

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.