Short Interest in John Hancock Preferred Income Fund II (NYSE:HPF) Drops By 51.2%

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 11,335 shares, a drop of 51.2% from the December 31st total of 23,209 shares. Based on an average daily trading volume, of 37,630 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 37,630 shares, the days-to-cover ratio is currently 0.3 days.

John Hancock Preferred Income Fund II Price Performance

NYSE:HPF remained flat at $16.14 during mid-day trading on Friday. 46,736 shares of the company were exchanged, compared to its average volume of 38,047. The business’s 50-day simple moving average is $16.16 and its two-hundred day simple moving average is $16.33. John Hancock Preferred Income Fund II has a 52 week low of $14.56 and a 52 week high of $17.58.

John Hancock Preferred Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 12th will be given a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Monday, January 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its stake in John Hancock Preferred Income Fund II by 6.4% in the fourth quarter. UBS Group AG now owns 361,631 shares of the company’s stock valued at $5,811,000 after buying an additional 21,636 shares during the last quarter. Axim Planning & Wealth lifted its stake in shares of John Hancock Preferred Income Fund II by 3.3% during the third quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock valued at $5,608,000 after buying an additional 10,752 shares during the period. Invesco Ltd. lifted its holdings in shares of John Hancock Preferred Income Fund II by 14.8% during the 3rd quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock worth $3,083,000 after acquiring an additional 23,622 shares during the period. J.W. Cole Advisors Inc. grew its position in John Hancock Preferred Income Fund II by 7.5% during the third quarter. J.W. Cole Advisors Inc. now owns 142,493 shares of the company’s stock valued at $2,401,000 after acquiring an additional 9,998 shares during the period. Finally, Guggenheim Capital LLC acquired a new stake in shares of John Hancock Preferred Income Fund II in the second quarter worth $687,000.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.