John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Significant Increase in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 96,670 shares, a growth of 172.9% from the December 31st total of 35,420 shares. Based on an average daily volume of 104,857 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.5% of the shares of the company are short sold. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 104,857 shares, the days-to-cover ratio is presently 0.9 days.

John Hancock Preferred Income ETF Trading Down 0.1%

Shares of NYSEARCA JHPI opened at $23.08 on Friday. John Hancock Preferred Income ETF has a 12-month low of $21.57 and a 12-month high of $23.56. The company has a market cap of $146.56 million, a PE ratio of 60.41 and a beta of 0.40. The stock has a 50 day simple moving average of $22.99 and a 200-day simple moving average of $23.02.

John Hancock Preferred Income ETF Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, January 28th were paid a $0.0452 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a c) annualized dividend and a dividend yield of 2.4%.

Institutional Investors Weigh In On John Hancock Preferred Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of JHPI. Jane Street Group LLC increased its stake in John Hancock Preferred Income ETF by 261.4% during the 1st quarter. Jane Street Group LLC now owns 35,756 shares of the company’s stock valued at $801,000 after buying an additional 25,861 shares during the period. ORG Partners LLC bought a new position in shares of John Hancock Preferred Income ETF in the second quarter valued at approximately $34,000. Janney Montgomery Scott LLC increased its stake in shares of John Hancock Preferred Income ETF by 4.1% during the second quarter. Janney Montgomery Scott LLC now owns 89,975 shares of the company’s stock valued at $2,028,000 after acquiring an additional 3,515 shares during the period. Beacon Financial Advisory LLC raised its holdings in John Hancock Preferred Income ETF by 1.5% during the second quarter. Beacon Financial Advisory LLC now owns 36,646 shares of the company’s stock worth $826,000 after purchasing an additional 525 shares in the last quarter. Finally, Etesian Wealth Advisors Inc. acquired a new stake in John Hancock Preferred Income ETF in the second quarter worth approximately $589,000.

About John Hancock Preferred Income ETF

The John Hancock Preferred Income ETF (JHPI) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund that attempts to generate income by primarily investing in preferred securities in the US market. JHPI was launched on Dec 14, 2021 and is managed by John Hancock.