John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Crosses Above 50 Day Moving Average of $16.22

Shares of John Hancock Preferred Income Fund III (NYSE:HPS) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.22 and traded as high as $16.98. John Hancock Preferred Income Fund III shares last traded at $16.96, with a volume of 40,870 shares.

John Hancock Preferred Income Fund III Stock Performance

The company’s 50 day moving average price is $16.24 and its 200 day moving average price is $15.72.

John Hancock Preferred Income Fund III Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.11 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 7.77%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several large investors have recently made changes to their positions in HPS. Concourse Financial Group Securities Inc. acquired a new position in John Hancock Preferred Income Fund III during the 1st quarter valued at about $25,000. Cetera Advisors LLC acquired a new position in John Hancock Preferred Income Fund III in the first quarter valued at approximately $199,000. Pine Valley Investments Ltd Liability Co boosted its stake in John Hancock Preferred Income Fund III by 10.6% in 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 stake in shares of John Hancock Preferred Income Fund III during the 1st quarter valued at $1,947,000.

About John Hancock Preferred Income Fund III

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.