John Hancock Preferred Income Fund III (HPS) to Issue Monthly Dividend of $0.11 on August 31st

John Hancock Preferred Income Fund III (NYSE:HPS) announced a monthly dividend on Monday, August 3rd. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.11 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend is Thursday, August 13th.

John Hancock Preferred Income Fund III Trading Up 0.2%

HPS stock opened at $14.27 on Tuesday. John Hancock Preferred Income Fund III has a fifty-two week low of $13.80 and a fifty-two week high of $15.68. The business’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $14.49.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in 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 valued at $30,000 after purchasing an additional 2,000 shares during the period. Fifth Third Bancorp bought a new position in John Hancock Preferred Income Fund III in the 1st quarter worth about $92,000. Kestra Advisory Services LLC purchased a new position in John Hancock Preferred Income Fund III in the fourth quarter worth $92,000. Cresset Asset Management LLC purchased a new stake in John Hancock Preferred Income Fund III in the second quarter worth approximately $189,000. Finally, Focus Financial Network Inc. lifted its stake in John Hancock Preferred Income Fund III by 18.1% in the second quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock worth $215,000 after purchasing an additional 2,260 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.