John Hancock Preferred Income Fund III (NYSE:HPS) to Issue Monthly Dividend of $0.11

John Hancock Preferred Income Fund III (NYSE:HPS) declared a monthly dividend on Wednesday, July 1st. Shareholders of record on Monday, July 13th will be paid a dividend of 0.11 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date is Monday, July 13th.

John Hancock Preferred Income Fund III Trading Down 0.1%

HPS stock opened at $14.53 on Thursday. The firm has a 50 day moving average price of $14.52 and a 200-day moving average price of $14.51. John Hancock Preferred Income Fund III has a 52-week low of $13.80 and a 52-week high of $15.68.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC bought a new stake in John Hancock Preferred Income Fund III in the first quarter worth $459,000. Royal Bank of Canada raised its position in shares of John Hancock Preferred Income Fund III by 2.1% in the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock worth $2,348,000 after purchasing an additional 3,323 shares during the last quarter. Fifth Third Bancorp bought a new position in John Hancock Preferred Income Fund III in the 1st quarter worth about $92,000. Janney Montgomery Scott LLC boosted its stake in John Hancock Preferred Income Fund III by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock worth $316,000 after purchasing an additional 1,987 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its position in John Hancock Preferred Income Fund III by 3.4% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock valued at $368,000 after purchasing an additional 844 shares during the last quarter.

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.