John Hancock Premium Dividend Fund (NYSE:PDT) Stock Short Interest Drops 44.4%

John Hancock Premium Dividend Fund (NYSE:PDT) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 38,708 shares, a drop of 44.4% from the September 30th total of 69,679 shares. Based on an average daily volume of 168,177 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

John Hancock Premium Dividend Fund Stock Performance

Shares of John Hancock Premium Dividend Fund stock traded up $0.14 during midday trading on Monday, hitting $12.19. The company had a trading volume of 158,752 shares, compared to its average volume of 151,764. The company has a 50 day moving average of $12.06 and a 200 day moving average of $12.78. John Hancock Premium Dividend Fund has a 52-week low of $11.49 and a 52-week high of $13.65.

John Hancock Premium Dividend Fund Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Tuesday, October 13th were issued a $0.0883 dividend. This represents a $1.06 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend was Tuesday, October 13th.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Several institutional investors and hedge funds have recently modified their holdings of PDT. Pathway Financial Advisers LLC raised its position in shares of John Hancock Premium Dividend Fund by 1.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 232,538 shares of the real estate investment trust’s stock worth $2,725,000 after purchasing an additional 3,086 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its position in John Hancock Premium Dividend Fund by 10.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 10,502 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 968 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in John Hancock Premium Dividend Fund by 14.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 47,994 shares of the real estate investment trust’s stock valued at $562,000 after purchasing an additional 6,150 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in John Hancock Premium Dividend Fund by 7.2% in the third quarter. Axxcess Wealth Management LLC now owns 645,219 shares of the real estate investment trust’s stock worth $7,562,000 after buying an additional 43,097 shares during the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in John Hancock Premium Dividend Fund by 36.7% in the third quarter. AdvisorNet Financial Inc now owns 14,898 shares of the real estate investment trust’s stock worth $175,000 after buying an additional 4,000 shares during the last quarter. 12.98% of the stock is currently owned by institutional investors.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund (NYSE: PDT) is a diversified closed-end investment company managed by John Hancock Investment Management LLC. The fund seeks to provide investors with a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in income-producing securities, including preferred stocks and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities sector, although the fund may invest across other industries and in both domestic and international markets.