John Hancock Preferred Income Fund II (NYSE:HPF – Get Free Report) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Monday, July 13th will be paid a dividend of 0.1235 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date of this dividend is Monday, July 13th.
John Hancock Preferred Income Fund II Stock Performance
Shares of HPF opened at $15.95 on Thursday. The business has a 50-day simple moving average of $15.91 and a two-hundred day simple moving average of $15.94. John Hancock Preferred Income Fund II has a 52 week low of $15.06 and a 52 week high of $17.13.
Institutional Investors Weigh In On John Hancock Preferred Income Fund II
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC bought a new stake in John Hancock Preferred Income Fund II during the 1st quarter worth approximately $66,000. Jane Street Group LLC bought a new position in shares of John Hancock Preferred Income Fund II in the fourth quarter worth approximately $180,000. Kestra Private Wealth Services LLC purchased a new stake in shares of John Hancock Preferred Income Fund II in the fourth quarter worth $322,000. NewEdge Advisors LLC increased its stake in shares of John Hancock Preferred Income Fund II by 4.0% in the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after purchasing an additional 770 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in shares of John Hancock Preferred Income Fund II by 6.7% during the 2nd quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock valued at $328,000 after purchasing an additional 1,299 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.
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