Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Declines By 17.4%

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 126,100 shares, a drop of 17.4% from the September 15th total of 152,600 shares. Based on an average trading volume of 45,800 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of John Hancock Preferred Income Fund III

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in John Hancock Preferred Income Fund III in the 2nd quarter worth about $2,512,000. Cetera Investment Advisers bought a new position in John Hancock Preferred Income Fund III during the first quarter valued at approximately $1,947,000. Commonwealth Equity Services LLC lifted its stake in John Hancock Preferred Income Fund III by 3.0% in the second quarter. Commonwealth Equity Services LLC now owns 107,801 shares of the company’s stock valued at $1,704,000 after acquiring an additional 3,128 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its position in John Hancock Preferred Income Fund III by 10.6% in the second quarter. Pine Valley Investments Ltd Liability Co now owns 18,841 shares of the company’s stock worth $298,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of John Hancock Preferred Income Fund III during the 1st quarter worth $199,000.

John Hancock Preferred Income Fund III Stock Performance

Shares of NYSE HPS opened at $16.69 on Wednesday. John Hancock Preferred Income Fund III has a 52-week low of $11.79 and a 52-week high of $17.25. The stock’s fifty day simple moving average is $16.53 and its 200 day simple moving average is $15.89.

John Hancock Preferred Income Fund III Announces Dividend

The company 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 $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date is Friday, October 11th.

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.