John Hancock Preferred Income Fund II (NYSE:HPF) Shares Pass Below 50-Day Moving Average of $15.24

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.24 and traded as low as $14.82. John Hancock Preferred Income Fund II shares last traded at $14.82, with a volume of 45,976 shares changing hands.

John Hancock Preferred Income Fund II Price Performance

The stock’s fifty day moving average is $15.24 and its 200 day moving average is $15.24.

John Hancock Preferred Income Fund II Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 11th will be paid a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 10.00%. The ex-dividend date is Friday, September 8th.

Institutional Trading of John Hancock Preferred Income Fund II

Several institutional investors have recently added to or reduced their stakes in HPF. Invesco Ltd. increased its position in shares of John Hancock Preferred Income Fund II by 15.3% during the first quarter. Invesco Ltd. now owns 187,030 shares of the company’s stock worth $3,559,000 after acquiring an additional 24,809 shares during the period. Morgan Stanley increased its holdings in John Hancock Preferred Income Fund II by 3.5% during the fourth quarter. Morgan Stanley now owns 149,798 shares of the company’s stock valued at $2,349,000 after buying an additional 5,092 shares during the period. Koshinski Asset Management Inc. increased its holdings in John Hancock Preferred Income Fund II by 0.8% during the first quarter. Koshinski Asset Management Inc. now owns 83,862 shares of the company’s stock valued at $1,302,000 after buying an additional 653 shares during the period. Guggenheim Capital LLC increased its holdings in John Hancock Preferred Income Fund II by 23.2% during the second quarter. Guggenheim Capital LLC now owns 81,818 shares of the company’s stock valued at $1,235,000 after buying an additional 15,398 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in John Hancock Preferred Income Fund II by 5.9% during the second quarter. Commonwealth Equity Services LLC now owns 61,617 shares of the company’s stock valued at $930,000 after buying an additional 3,452 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.