John Hancock Preferred Income Fund II (NYSE:HPF) Shares Cross Below 50 Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund II (NYSE:HPF) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.94 and traded as low as $15.54. John Hancock Preferred Income Fund II shares last traded at $15.69, with a volume of 32,400 shares traded.

John Hancock Preferred Income Fund II Stock Performance

The business’s 50 day simple moving average is $15.94 and its 200 day simple moving average is $16.27.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were given a $0.1235 dividend. The ex-dividend date was Thursday, March 12th. This represents a c) dividend on an annualized basis and a yield of 9.4%.

Institutional Trading of John Hancock Preferred Income Fund II

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in John Hancock Preferred Income Fund II by 31.3% in the first quarter. Royal Bank of Canada now owns 31,237 shares of the company’s stock worth $519,000 after buying an additional 7,449 shares during the last quarter. Invesco Ltd. lifted its position in shares of John Hancock Preferred Income Fund II by 5.0% in the second quarter. Invesco Ltd. now owns 159,319 shares of the company’s stock worth $2,519,000 after buying an additional 7,579 shares during the last quarter. Guggenheim Capital LLC bought a new position in shares of John Hancock Preferred Income Fund II in the 2nd quarter valued at approximately $687,000. NewEdge Advisors LLC grew its holdings in John Hancock Preferred Income Fund II by 4.0% during the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after purchasing an additional 770 shares during the last quarter. Finally, Raymond James Financial Inc. lifted 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 worth $328,000 after buying an additional 1,299 shares during the last quarter.

John Hancock Preferred Income Fund II Company Profile

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.