John Hancock Preferred Income Fund (NYSE:HPI) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

John Hancock Preferred Income Fund (NYSE:HPI)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $17.55 and traded as high as $17.78. John Hancock Preferred Income Fund shares last traded at $17.68, with a volume of 28,095 shares.

John Hancock Preferred Income Fund Stock Performance

The firm’s 50 day simple moving average is $16.99 and its 200-day simple moving average is $17.55.

John Hancock Preferred Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Thursday, February 13th will be given a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a yield of 8.38%. The ex-dividend date is Thursday, February 13th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

A number of institutional investors have recently bought and sold shares of the business. LPL Financial LLC lifted its position in shares of John Hancock Preferred Income Fund by 9.8% in the fourth quarter. LPL Financial LLC now owns 170,410 shares of the company’s stock worth $2,834,000 after purchasing an additional 15,257 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in John Hancock Preferred Income Fund in the 4th quarter worth approximately $1,786,000. Level Four Advisory Services LLC lifted its position in John Hancock Preferred Income Fund by 2.7% in the 4th quarter. Level Four Advisory Services LLC now owns 45,653 shares of the company’s stock worth $759,000 after buying an additional 1,218 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of John Hancock Preferred Income Fund by 6.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 260,223 shares of the company’s stock valued at $4,328,000 after acquiring an additional 16,029 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new position in shares of John Hancock Preferred Income Fund during the 4th quarter valued at $127,000.

About John Hancock Preferred Income Fund

John Hancock Preferred Income Fund is a closed ended balanced mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.