John Hancock Preferred Income Fund III (NYSE:HPS) Sees Significant Decline in Short Interest

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 97,100 shares, a drop of 23.0% from the September 30th total of 126,100 shares. Based on an average daily volume of 43,600 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

A number of institutional investors have recently made changes to their positions in the stock. Concourse Financial Group Securities Inc. acquired a new stake in shares of John Hancock Preferred Income Fund III during the first quarter worth $25,000. Cetera Advisors LLC bought a new stake in John Hancock Preferred Income Fund III during the first quarter valued at $199,000. Pine Valley Investments Ltd Liability Co boosted its position in John Hancock Preferred Income Fund III by 10.6% during the second quarter. Pine Valley Investments Ltd Liability Co now owns 18,841 shares of the company’s stock valued at $298,000 after acquiring an additional 1,800 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in John Hancock Preferred Income Fund III by 3.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 107,801 shares of the company’s stock worth $1,704,000 after acquiring an additional 3,128 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of John Hancock Preferred Income Fund III in the 1st quarter worth about $1,947,000.

John Hancock Preferred Income Fund III Price Performance

HPS opened at $16.25 on Monday. John Hancock Preferred Income Fund III has a fifty-two week low of $11.79 and a fifty-two week high of $17.25. The company’s 50 day moving average price is $16.63 and its two-hundred day moving average price is $15.96.

John Hancock Preferred Income Fund III Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 11th will be paid a $0.11 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.32 annualized dividend and a dividend yield of 8.12%.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed ended fixed income 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 fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.