John Hancock Premium Dividend Fund (NYSE:PDT) Sees Unusually-High Trading Volume

John Hancock Premium Dividend Fund (NYSE:PDT) saw strong trading volume on Wednesday . 43,244 shares changed hands during mid-day trading, a decline of 66% from the previous session’s volume of 125,713 shares.The stock last traded at $11.82 and had previously closed at $11.69.

John Hancock Premium Dividend Fund Stock Up 0.7 %

The stock has a 50 day moving average of $11.50 and a two-hundred day moving average of $11.25.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, July 11th will be paid a $0.0825 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 8.41%.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Several hedge funds and other institutional investors have recently bought and sold shares of PDT. Williams Jones Wealth Management LLC. acquired a new position in John Hancock Premium Dividend Fund during the first quarter worth $127,000. CTC Alternative Strategies Ltd. acquired a new position in John Hancock Premium Dividend Fund during the fourth quarter worth $140,000. HB Wealth Management LLC acquired a new position in John Hancock Premium Dividend Fund during the first quarter worth $149,000. J.W. Cole Advisors Inc. raised its holdings in John Hancock Premium Dividend Fund by 15.7% during the fourth quarter. J.W. Cole Advisors Inc. now owns 16,457 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 2,228 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in John Hancock Premium Dividend Fund during the fourth quarter worth $212,000. 12.98% of the stock is owned by institutional investors and hedge funds.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund is a closed ended equity mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.