John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Passes Above 50 Day Moving Average – Should You Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $17.43 and traded as high as $18.91. John Hancock Preferred Income Fund II shares last traded at $18.69, with a volume of 47,743 shares.

John Hancock Preferred Income Fund II Stock Down 0.9 %

The business’s fifty day moving average price is $17.47 and its two-hundred day moving average price is $17.05.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be paid a dividend of $0.1235 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.48 annualized dividend and a yield of 7.93%.

Institutional Trading of John Hancock Preferred Income Fund II

Several hedge funds and other institutional investors have recently bought and sold shares of HPF. Private Advisor Group LLC boosted its position in shares of John Hancock Preferred Income Fund II by 5.5% during the first quarter. Private Advisor Group LLC now owns 21,297 shares of the company’s stock valued at $352,000 after buying an additional 1,106 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in John Hancock Preferred Income Fund II during the 3rd quarter valued at $33,000. Commonwealth Equity Services LLC increased its stake in John Hancock Preferred Income Fund II by 5.4% in the second quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock worth $1,104,000 after purchasing an additional 3,361 shares during the period. Wedbush Securities Inc. lifted its position in shares of John Hancock Preferred Income Fund II by 20.2% during the second quarter. Wedbush Securities Inc. now owns 22,229 shares of the company’s stock worth $377,000 after purchasing an additional 3,729 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 9.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 67,813 shares of the company’s stock valued at $1,121,000 after purchasing an additional 5,768 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II 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.