John Hancock Preferred Income Fund (NYSE:HPI) Stock Price Crosses Below Fifty Day Moving Average of $15.18

John Hancock Preferred Income Fund (NYSE:HPI – Get Rating) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.18 and traded as low as $14.29. John Hancock Preferred Income Fund shares last traded at $14.29, with a volume of 42,887 shares changing hands.

John Hancock Preferred Income Fund Trading Up 0.5 %

The firm has a fifty day simple moving average of $15.14 and a two-hundred day simple moving average of $16.05.

John Hancock Preferred Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Thursday, May 11th will be issued a $0.1235 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.43%. The ex-dividend date of this dividend is Wednesday, May 10th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund

A number of large investors have recently made changes to their positions in the stock. Raymond James & Associates raised its position in John Hancock Preferred Income Fund by 4.9% during the fourth quarter. Raymond James & Associates now owns 18,773 shares of the company’s stock valued at $301,000 after purchasing an additional 870 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of John Hancock Preferred Income Fund by 4.7% in the fourth quarter. Private Advisor Group LLC now owns 20,839 shares of the company’s stock worth $334,000 after purchasing an additional 937 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of John Hancock Preferred Income Fund by 5.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 28,892 shares of the company’s stock worth $464,000 after purchasing an additional 1,454 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of John Hancock Preferred Income Fund by 21.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,432 shares of the company’s stock worth $135,000 after purchasing an additional 1,465 shares during the last quarter. Finally, Mariner LLC boosted its position in John Hancock Preferred Income Fund by 8.9% during the 4th quarter. Mariner LLC now owns 18,820 shares of the company’s stock valued at $302,000 after acquiring an additional 1,540 shares in the last quarter.

About John Hancock Preferred Income Fund

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John Hancock Preferred Income Fund operates as a closed-end investment fund/investment trust. It seeks to provide a high level of current income consistent with preservation of capital by investing its assets in preferred stocks or other preferred securities, including convertible preferred securities.