John Hancock Preferred Income Fund III (HPS) to Distribute Monthly Dividend of $0.11 on October 30th

John Hancock Preferred Income Fund III (NYSE:HPS) declared a monthly dividend on Thursday, October 1st. Stockholders of record on Tuesday, October 13th will be given a dividend of $0.11 per share on Friday, October 30th. This represents a $1.32 annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend is Tuesday, October 13th.

John Hancock Preferred Income Fund III Stock Up 1.2%

Shares of NYSE:HPS opened at $12.13 on Friday. The company has a 50 day moving average of $13.54 and a 200-day moving average of $14.13. John Hancock Preferred Income Fund III has a twelve month low of $11.76 and a twelve month high of $15.68.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Institutional investors and hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC acquired a new stake in John Hancock Preferred Income Fund III in the first quarter valued at approximately $459,000. Fiera Capital Corp lifted its stake in shares of John Hancock Preferred Income Fund III by 18.1% in the 4th quarter. Fiera Capital Corp now owns 115,546 shares of the company’s stock valued at $1,665,000 after purchasing an additional 17,726 shares during the last quarter. Readystate Asset Management LP bought a new stake in John Hancock Preferred Income Fund III in the second quarter worth $253,000. Fifth Third Bancorp bought a new position in John Hancock Preferred Income Fund III during the first quarter valued at about $92,000. Finally, J.W. Cole Advisors Inc. lifted its position in shares of John Hancock Preferred Income Fund III by 10.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 60,647 shares of the company’s stock worth $874,000 after buying an additional 5,770 shares during the last quarter.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a publicly traded closed-end fund listed on the New York Stock Exchange under the symbol HPS. The fund is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.

The fund’s primary objective is to provide a high level of current income. It invests mainly in preferred securities issued by companies in the financial, utility, telecommunications and other industries, while also investing in other income-producing securities when appropriate.