John Hancock Preferred Income Fund (NYSE:HPI) Stock Crosses Below 50-Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund (NYSE:HPI)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.31 and traded as low as $16.53. John Hancock Preferred Income Fund shares last traded at $16.78, with a volume of 83,937 shares trading hands.

John Hancock Preferred Income Fund Stock Up 0.1 %

The business has a 50 day simple moving average of $17.28 and a 200 day simple moving average of $17.49.

John Hancock Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a $0.1235 dividend. This represents a $1.48 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Monday, December 30th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in HPI. US Bancorp DE acquired a new stake in shares of John Hancock Preferred Income Fund during the third quarter worth about $95,000. Wedbush Securities Inc. raised its position in John Hancock Preferred Income Fund by 5.3% during the 2nd quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock worth $199,000 after buying an additional 600 shares during the last quarter. SAM Advisors LLC lifted its stake in John Hancock Preferred Income Fund by 3.4% during the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock valued at $510,000 after acquiring an additional 886 shares during the period. Fiera Capital Corp boosted its holdings in shares of John Hancock Preferred Income Fund by 1.5% in the 3rd quarter. Fiera Capital Corp now owns 78,586 shares of the company’s stock valued at $1,489,000 after acquiring an additional 1,170 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of John Hancock Preferred Income Fund by 1.7% in the second quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock worth $1,338,000 after acquiring an additional 1,351 shares during the period.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund is a closed ended balanced 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 and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.