John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 61,500 shares, a growth of 485.7% from the January 31st total of 10,500 shares. Based on an average trading volume of 67,500 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

A number of institutional investors and hedge funds have recently made changes to their positions in HPS. Wilmington Savings Fund Society FSB bought a new position in shares of John Hancock Preferred Income Fund III during the 3rd quarter valued at approximately $34,000. BankPlus Trust Department purchased a new position in shares of John Hancock Preferred Income Fund III in the fourth quarter valued at $38,000. Fifth Third Bancorp bought a new stake in shares of John Hancock Preferred Income Fund III in the 4th quarter worth about $41,000. US Bancorp DE purchased a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter worth approximately $76,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of John Hancock Preferred Income Fund III in the third quarter valued at $176,000.

John Hancock Preferred Income Fund III Stock Down 0.3 %

Shares of HPS stock traded down $0.04 on Thursday, hitting $15.22. 43,652 shares of the stock were exchanged, compared to its average volume of 66,878. The firm’s 50 day moving average is $15.04 and its two-hundred day moving average is $15.79. John Hancock Preferred Income Fund III has a one year low of $14.09 and a one year high of $17.25.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be paid a $0.11 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.32 annualized dividend and a dividend yield of 8.67%.

John Hancock Preferred Income Fund III Company Profile

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