John Hancock Preferred Income Fund II (NYSE:HPF) Stock Passes Below 50 Day Moving Average of $16.35

John Hancock Preferred Income Fund II (NYSE:HPF) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.35 and traded as low as $16.21. John Hancock Preferred Income Fund II shares last traded at $16.31, with a volume of 142,892 shares.

John Hancock Preferred Income Fund II Trading Down 3.4 %

The stock’s 50-day moving average is $16.35 and its 200-day moving average is $15.60.

John Hancock Preferred Income Fund II Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, April 11th will be issued a $0.1235 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.09%. The ex-dividend date is Wednesday, April 10th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Institutional investors and hedge funds have recently bought and sold shares of the stock. Anchor Investment Management LLC purchased a new position in John Hancock Preferred Income Fund II in the 4th quarter worth approximately $33,000. Koshinski Asset Management Inc. boosted its holdings in John Hancock Preferred Income Fund II by 59.2% in the 4th quarter. Koshinski Asset Management Inc. now owns 133,072 shares of the company’s stock worth $2,100,000 after acquiring an additional 49,466 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in John Hancock Preferred Income Fund II in the 4th quarter worth approximately $187,000. Global Retirement Partners LLC purchased a new position in John Hancock Preferred Income Fund II in the 4th quarter worth approximately $27,000. Finally, Axim Planning & Wealth purchased a new position in John Hancock Preferred Income Fund II in the 4th quarter worth approximately $1,389,000.

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.