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

Shares of John Hancock Preferred Income Fund II (NYSE:HPF) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $15.83 and traded as high as $15.95. John Hancock Preferred Income Fund II shares last traded at $15.85, with a volume of 38,027 shares traded.

John Hancock Preferred Income Fund II Stock Down 0.7%

The stock has a 50-day moving average of $15.83 and a 200 day moving average of $16.16.

John Hancock Preferred Income Fund II Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 13th will be given a dividend of $0.1235 per share. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Monday, April 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC grew its position in shares of John Hancock Preferred Income Fund II by 73.1% during the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after buying an additional 102,627 shares during the period. Royal Bank of Canada grew its position in shares of John Hancock Preferred Income Fund II by 7.3% during the 4th 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. Kestra Advisory Services LLC grew its position in shares of John Hancock Preferred Income Fund II by 57.5% during the 4th quarter. Kestra Advisory Services LLC now owns 66,744 shares of the company’s stock worth $1,073,000 after buying an additional 24,354 shares during the period. Jane Street Group LLC acquired a new position in shares of John Hancock Preferred Income Fund II during the 4th quarter worth about $180,000. Finally, Wedbush Securities Inc. grew its position in shares of John Hancock Preferred Income Fund II by 6.4% during the 4th quarter. Wedbush Securities Inc. now owns 25,147 shares of the company’s stock worth $404,000 after buying an additional 1,512 shares during the period.

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.