John Hancock Income Securities Trust (NYSE:JHS) Shares Cross Below 50 Day Moving Average – Here’s Why

John Hancock Income Securities Trust (NYSE:JHS) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.68 and traded as low as $11.50. John Hancock Income Securities Trust shares last traded at $11.5650, with a volume of 11,267 shares changing hands.

John Hancock Income Securities Trust Trading Up 0.3%

The stock has a fifty day moving average price of $11.68 and a two-hundred day moving average price of $11.43.

John Hancock Income Securities Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were issued a $0.1421 dividend. This represents a $0.57 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, September 12th.

Hedge Funds Weigh In On John Hancock Income Securities Trust

Several hedge funds and other institutional investors have recently modified their holdings of JHS. Prestige Wealth Management Group LLC acquired a new stake in John Hancock Income Securities Trust in the third quarter valued at about $42,000. Wolverine Asset Management LLC boosted its stake in shares of John Hancock Income Securities Trust by 5,395.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 5,495 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 5,395 shares in the last quarter. Brick & Kyle Associates bought a new stake in shares of John Hancock Income Securities Trust during the 2nd quarter valued at approximately $238,000. Cary Street Partners Financial LLC acquired a new position in John Hancock Income Securities Trust during the 2nd quarter worth approximately $377,000. Finally, Baird Financial Group Inc. lifted its stake in John Hancock Income Securities Trust by 23.9% in the 2nd quarter. Baird Financial Group Inc. now owns 60,103 shares of the financial services provider’s stock valued at $678,000 after purchasing an additional 11,587 shares during the last quarter.

About John Hancock Income Securities Trust

John Hancock Income Securities Trust 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 United States. It invests primarily in corporate and government bonds with average maturity of 7.57 years.