John Hancock Preferred Income Fund II (NYSE:HPF) Shares Pass Below 50 Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $16.03 and traded as low as $15.25. John Hancock Preferred Income Fund II shares last traded at $15.29, with a volume of 44,337 shares traded.

John Hancock Preferred Income Fund II Stock Down 0.4%

The business has a 50 day simple moving average of $16.03 and a 200-day simple moving average of $16.32.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be issued a $0.1235 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend is Thursday, March 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HPF. NewEdge Advisors LLC grew its position in John Hancock Preferred Income Fund II by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after purchasing an additional 770 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of John Hancock Preferred Income Fund II by 6.7% in the second quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock valued at $328,000 after purchasing an additional 1,299 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of John Hancock Preferred Income Fund II by 1.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after buying an additional 1,463 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of John Hancock Preferred Income Fund II by 6.4% during the fourth quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock valued at $404,000 after buying an additional 1,512 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of John Hancock Preferred Income Fund II by 7.3% during the fourth quarter. Royal Bank of Canada now owns 30,397 shares of the company’s stock worth $488,000 after buying an additional 2,078 shares during the period.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.