LPL Financial LLC Increases Stake in John Hancock Preferred Income Fund III (NYSE:HPS)

LPL Financial LLC boosted its stake in shares of John Hancock Preferred Income Fund III (NYSE:HPS) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 252,703 shares of the company’s stock after acquiring an additional 39,981 shares during the quarter. LPL Financial LLC’s holdings in John Hancock Preferred Income Fund III were worth $3,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HPS. J.W. Cole Advisors Inc. purchased a new stake in shares of John Hancock Preferred Income Fund III in the first quarter valued at approximately $845,000. Invesco Ltd. increased its position in shares of John Hancock Preferred Income Fund III by 10.8% in the fourth quarter. Invesco Ltd. now owns 227,301 shares of the company’s stock valued at $3,416,000 after buying an additional 22,161 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of John Hancock Preferred Income Fund III in the fourth quarter valued at approximately $325,000. Cetera Investment Advisers increased its position in shares of John Hancock Preferred Income Fund III by 18.8% in the fourth quarter. Cetera Investment Advisers now owns 136,659 shares of the company’s stock valued at $2,054,000 after buying an additional 21,649 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of John Hancock Preferred Income Fund III in the fourth quarter valued at approximately $311,000.

John Hancock Preferred Income Fund III Stock Up 0.2%

Shares of NYSE:HPS opened at $14.64 on Friday. The business’s 50 day moving average price is $14.31 and its 200-day moving average price is $14.55. John Hancock Preferred Income Fund III has a 1 year low of $13.08 and a 1 year high of $17.25.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a c) dividend on an annualized basis and a dividend yield of 9.0%.

About John Hancock Preferred Income Fund III

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.