John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund III (NYSE:HPS)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $15.07 and traded as high as $15.08. John Hancock Preferred Income Fund III shares last traded at $15.05, with a volume of 29,423 shares traded.

John Hancock Preferred Income Fund III Trading Up 0.0 %

The firm has a fifty day moving average of $15.07 and a 200 day moving average of $15.68.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.32 annualized dividend and a dividend yield of 8.73%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several hedge funds have recently modified their holdings of HPS. LPL Financial LLC raised its holdings in shares of John Hancock Preferred Income Fund III by 112.0% during the 4th quarter. LPL Financial LLC now owns 212,722 shares of the company’s stock valued at $3,197,000 after buying an additional 112,363 shares during the period. Sowell Financial Services LLC purchased a new stake in John Hancock Preferred Income Fund III during the 4th quarter worth approximately $698,000. Pine Valley Investments Ltd Liability Co increased its holdings in John Hancock Preferred Income Fund III by 153.9% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 49,357 shares of the company’s stock worth $742,000 after purchasing an additional 29,916 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in John Hancock Preferred Income Fund III during the 4th quarter worth approximately $399,000. Finally, Janney Montgomery Scott LLC purchased a new stake in John Hancock Preferred Income Fund III during the 4th quarter worth approximately $358,000.

About John Hancock Preferred Income Fund III

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.