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

John Hancock Preferred Income Fund III (NYSE:HPS) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 160,200 shares, a drop of 5.7% from the March 15th total of 169,900 shares. Based on an average daily trading volume, of 57,200 shares, the short-interest ratio is presently 2.8 days.

John Hancock Preferred Income Fund III Trading Up 1.2 %

NYSE:HPS traded up $0.18 during midday trading on Wednesday, reaching $14.78. The company had a trading volume of 117,360 shares, compared to its average volume of 62,815. John Hancock Preferred Income Fund III has a 12-month low of $11.79 and a 12-month high of $15.55. The stock’s fifty day simple moving average is $15.08 and its 200-day simple moving average is $14.02.

John Hancock Preferred Income Fund III Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 11th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 8.93%. The ex-dividend date is Wednesday, April 10th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

A number of institutional investors and hedge funds have recently made changes to their positions in HPS. Activest Wealth Management purchased a new position in John Hancock Preferred Income Fund III in the fourth quarter valued at $31,000. Global Retirement Partners LLC boosted its position in shares of John Hancock Preferred Income Fund III by 255.1% during the 4th quarter. Global Retirement Partners LLC now owns 2,713 shares of the company’s stock worth $39,000 after acquiring an additional 1,949 shares in the last quarter. Ramirez Asset Management Inc. purchased a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at about $47,000. Sunbelt Securities Inc. acquired a new stake in shares of John Hancock Preferred Income Fund III during the 1st quarter worth about $94,000. Finally, Comerica Bank purchased a new stake in John Hancock Preferred Income Fund III during the third quarter worth approximately $96,000.

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.