Short Interest in John Hancock Preferred Income Fund III (NYSE:HPS) Grows By 55.7%

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 183,780 shares, an increase of 55.7% from the March 15th total of 118,024 shares. Based on an average daily trading volume, of 68,287 shares, the days-to-cover ratio is currently 2.7 days.

John Hancock Preferred Income Fund III Trading Up 0.4%

NYSE:HPS opened at $14.45 on Thursday. John Hancock Preferred Income Fund III has a 1 year low of $13.80 and a 1 year high of $15.68. The firm has a 50 day moving average of $14.52 and a 200-day moving average of $14.77.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 13th will be given a dividend of $0.11 per share. The ex-dividend date is Monday, April 13th. This represents a c) dividend on an annualized basis and a yield of 9.1%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in shares of John Hancock Preferred Income Fund III by 0.6% in the third quarter. Bank of America Corp DE now owns 147,907 shares of the company’s stock valued at $2,284,000 after purchasing an additional 898 shares in the last quarter. Focus Financial Network Inc. raised its position in John Hancock Preferred Income Fund III by 8.5% in the 4th quarter. Focus Financial Network Inc. now owns 12,716 shares of the company’s stock valued at $183,000 after buying an additional 1,000 shares during the last quarter. HighTower Advisors LLC raised its position in John Hancock Preferred Income Fund III by 6.7% in the 4th quarter. HighTower Advisors LLC now owns 22,666 shares of the company’s stock valued at $327,000 after buying an additional 1,433 shares during the last quarter. Post Resch Tallon Group Inc. lifted its stake in John Hancock Preferred Income Fund III by 6.4% in the 3rd quarter. Post Resch Tallon Group Inc. now owns 25,407 shares of the company’s stock valued at $392,000 after acquiring an additional 1,533 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in John Hancock Preferred Income Fund III by 2,816.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,071 shares of the company’s stock valued at $30,000 after acquiring an additional 2,000 shares in the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.