Janney Montgomery Scott LLC Cuts Stock Position in John Hancock Preferred Income Fund III (NYSE:HPS)

Janney Montgomery Scott LLC lessened its stake in John Hancock Preferred Income Fund III (NYSE:HPS – Get Rating) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,684 shares of the company’s stock after selling 1,401 shares during the quarter. Janney Montgomery Scott LLC’s holdings in John Hancock Preferred Income Fund III were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in John Hancock Preferred Income Fund III by 18.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,958 shares of the company’s stock worth $269,000 after purchasing an additional 2,300 shares during the last quarter. Cetera Advisor Networks LLC acquired a new stake in John Hancock Preferred Income Fund III during the 1st quarter worth $285,000. NewEdge Advisors LLC boosted its stake in John Hancock Preferred Income Fund III by 17.8% during the 1st quarter. NewEdge Advisors LLC now owns 14,425 shares of the company’s stock worth $259,000 after purchasing an additional 2,180 shares during the last quarter. Invesco Ltd. boosted its stake in John Hancock Preferred Income Fund III by 8.0% during the 1st quarter. Invesco Ltd. now owns 255,835 shares of the company’s stock worth $4,595,000 after purchasing an additional 18,901 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in John Hancock Preferred Income Fund III during the 1st quarter worth $203,000.

John Hancock Preferred Income Fund III Stock Up 0.3 %

Shares of HPS opened at $15.04 on Wednesday. John Hancock Preferred Income Fund III has a 52-week low of $13.71 and a 52-week high of $18.11. The firm’s fifty day moving average is $14.71 and its two-hundred day moving average is $15.26.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, January 12th. This represents a $1.32 annualized dividend and a dividend yield of 8.78%.

John Hancock Preferred Income Fund III Company Profile

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John Hancock Preferred Income Fund III operates as a closed-end management investment company. It seeks to provide a high level of current income consistent with preservation of capital by investing in securities that, in the opinion of the Advisor, may be undervalued relative to similar securities in the marketplace.