Wells Fargo & Company MN Trims Stock Position in John Hancock Preferred Income Fund III (NYSE:HPS)

Wells Fargo & Company MN decreased its position in John Hancock Preferred Income Fund III (NYSE:HPS) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,044 shares of the company’s stock after selling 4,328 shares during the period. Wells Fargo & Company MN’s holdings in John Hancock Preferred Income Fund III were worth $331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HPS. LPL Financial LLC raised its position in John Hancock Preferred Income Fund III by 112.0% during the 4th quarter. LPL Financial LLC now owns 212,722 shares of the company’s stock valued at $3,197,000 after purchasing an additional 112,363 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in shares of John Hancock Preferred Income Fund III by 153.9% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 49,357 shares of the company’s stock valued at $742,000 after buying an additional 29,916 shares during the period. Sowell Financial Services LLC bought a new stake in shares of John Hancock Preferred Income Fund III in the fourth quarter valued at about $698,000. Wolverine Asset Management LLC purchased a new stake in John Hancock Preferred Income Fund III in the fourth quarter worth about $399,000. Finally, Janney Montgomery Scott LLC purchased a new stake in John Hancock Preferred Income Fund III in the fourth quarter worth about $358,000.

John Hancock Preferred Income Fund III Price Performance

NYSE HPS opened at $14.41 on Tuesday. John Hancock Preferred Income Fund III has a one year low of $13.08 and a one year high of $17.25. The company’s 50-day simple moving average is $14.59 and its two-hundred day simple moving average is $15.10.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 12th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 9.16%. The ex-dividend date is Monday, May 12th.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III 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.