John Hancock Preferred Income Fund II (NYSE:HPF) Sees Large Increase in Short Interest

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 16,507 shares, a growth of 45.6% from the January 15th total of 11,335 shares. Based on an average daily volume of 38,567 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 38,567 shares, the days-to-cover ratio is currently 0.4 days.

John Hancock Preferred Income Fund II Stock Performance

NYSE:HPF opened at $16.13 on Friday. The company’s 50-day moving average price is $16.12 and its two-hundred day moving average price is $16.35. John Hancock Preferred Income Fund II has a 12 month low of $14.56 and a 12 month high of $17.57.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 12th will be paid a $0.1235 dividend. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Thursday, February 12th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors and hedge funds have recently made changes to their positions in HPF. Wolverine Asset Management LLC bought a new position in shares of John Hancock Preferred Income Fund II in the second quarter valued at $112,000. Jane Street Group LLC acquired a new stake in John Hancock Preferred Income Fund II in the fourth quarter valued at $180,000. Readystate Asset Management LP bought a new position in shares of John Hancock Preferred Income Fund II in the 3rd quarter valued at about $195,000. Spire Wealth Management increased its stake in shares of John Hancock Preferred Income Fund II by 25.0% during the 3rd quarter. Spire Wealth Management now owns 12,384 shares of the company’s stock worth $209,000 after purchasing an additional 2,478 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in shares of John Hancock Preferred Income Fund II by 12.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 18,947 shares of the company’s stock worth $301,000 after purchasing an additional 2,140 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.