John Hancock Preferred Income Fund II (NYSE:HPF) Sees Large Decline in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 14,700 shares, a drop of 39.8% from the January 15th total of 24,400 shares. Based on an average daily trading volume, of 43,700 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stifel Financial Corp lifted its position in shares of John Hancock Preferred Income Fund II by 1.0% in the third quarter. Stifel Financial Corp now owns 141,507 shares of the company’s stock valued at $2,639,000 after buying an additional 1,465 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in John Hancock Preferred Income Fund II by 2,654.0% during the 3rd quarter. International Assets Investment Management LLC now owns 23,271 shares of the company’s stock valued at $434,000 after purchasing an additional 22,426 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in John Hancock Preferred Income Fund II during the third quarter worth $33,000. Axim Planning & Wealth boosted its position in John Hancock Preferred Income Fund II by 14.0% during the third quarter. Axim Planning & Wealth now owns 420,003 shares of the company’s stock worth $7,833,000 after purchasing an additional 51,730 shares during the period. Finally, Cornerstone Advisors LLC acquired a new position in shares of John Hancock Preferred Income Fund II in the third quarter valued at $69,000.

John Hancock Preferred Income Fund II Stock Down 0.6 %

NYSE HPF opened at $17.40 on Friday. The firm’s fifty day moving average price is $16.73 and its two-hundred day moving average price is $17.28. John Hancock Preferred Income Fund II has a 1 year low of $15.39 and a 1 year high of $19.00.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, February 28th. Stockholders of record on Thursday, February 13th will be issued a $0.1235 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.52%.

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.