John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Sees Significant Drop in Short Interest

John Hancock Hedged Equity & Income Fund (NYSE:HEQ – Get Rating) was the recipient of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 5,800 shares, a decline of 52.5% from the March 31st total of 12,200 shares. Based on an average daily trading volume, of 37,300 shares, the days-to-cover ratio is presently 0.2 days.

Shares of NYSE HEQ opened at $13.18 on Friday. John Hancock Hedged Equity & Income Fund has a 52-week low of $11.63 and a 52-week high of $13.81. The business’s 50 day moving average is $12.89 and its two-hundred day moving average is $12.92.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Friday, March 11th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date was Thursday, March 10th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC purchased a new stake in John Hancock Hedged Equity & Income Fund in the fourth quarter valued at approximately $134,000. Royal Bank of Canada raised its position in John Hancock Hedged Equity & Income Fund by 36.8% in the third quarter. Royal Bank of Canada now owns 11,057 shares of the investment management company’s stock valued at $139,000 after purchasing an additional 2,977 shares during the period. Raymond James & Associates raised its position in John Hancock Hedged Equity & Income Fund by 5.1% in the third quarter. Raymond James & Associates now owns 16,308 shares of the investment management company’s stock valued at $205,000 after purchasing an additional 791 shares during the period. National Asset Management Inc. increased its position in shares of John Hancock Hedged Equity & Income Fund by 13.5% during the third quarter. National Asset Management Inc. now owns 17,461 shares of the investment management company’s stock worth $220,000 after acquiring an additional 2,075 shares during the period. Finally, NewEdge Advisors LLC purchased a new stake in shares of John Hancock Hedged Equity & Income Fund during the fourth quarter worth $247,000.

John Hancock Hedged Equity & Income Fund Company Profile (Get Rating)

John Hancock Hedged Equity & Income Fund is a closed-ended equity mutual fund launched and managed by John Hancock Investment Management LLC. The fund is co-managed by Wellington Management Company LLP. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.

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