John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

John Hancock Preferred Income Fund III (NYSE:HPS) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $15.03 and traded as low as $14.36. John Hancock Preferred Income Fund III shares last traded at $14.41, with a volume of 60,455 shares traded.

John Hancock Preferred Income Fund III Price Performance

The company has a 50-day moving average of $15.03 and a 200-day moving average of $14.79.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Thursday, December 11th will be issued a dividend of $0.11 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date is Thursday, December 11th.

Institutional Trading of John Hancock Preferred Income Fund III

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in John Hancock Preferred Income Fund III during the 2nd quarter worth approximately $52,000. Fifth Third Bancorp acquired a new stake in shares of John Hancock Preferred Income Fund III in the second quarter valued at approximately $72,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of John Hancock Preferred Income Fund III in the second quarter worth $326,000. Focus Financial Network Inc. boosted its holdings in John Hancock Preferred Income Fund III by 10.9% during the second quarter. Focus Financial Network Inc. now owns 11,398 shares of the company’s stock worth $163,000 after purchasing an additional 1,116 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in John Hancock Preferred Income Fund III by 3.1% in the second quarter. Cetera Investment Advisers now owns 140,155 shares of the company’s stock valued at $1,999,000 after purchasing an additional 4,194 shares in the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.