John Hancock Preferred Income Fund II (NYSE:HPF) Shares Pass Below 50-Day Moving Average – What’s Next?

John Hancock Preferred Income Fund II (NYSE:HPF)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.11 and traded as low as $15.66. John Hancock Preferred Income Fund II shares last traded at $15.6810, with a volume of 39,218 shares traded.

John Hancock Preferred Income Fund II Stock Up 0.3%

The firm has a 50 day moving average of $16.10 and a 200-day moving average of $16.35.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th will be issued a $0.1235 dividend. This represents a c) annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Thursday, March 12th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

A number of large investors have recently bought and sold shares of HPF. UBS Group AG lifted its holdings in John Hancock Preferred Income Fund II by 6.4% in the 4th quarter. UBS Group AG now owns 361,631 shares of the company’s stock valued at $5,811,000 after purchasing an additional 21,636 shares in the last quarter. Axim Planning & Wealth increased its holdings in John Hancock Preferred Income Fund II by 3.3% in the 3rd quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock valued at $5,608,000 after purchasing an additional 10,752 shares during the last quarter. Guggenheim Capital LLC lifted its stake in John Hancock Preferred Income Fund II by 73.1% during the 4th quarter. Guggenheim Capital LLC now owns 243,009 shares of the company’s stock worth $3,905,000 after acquiring an additional 102,627 shares in the last quarter. Invesco Ltd. lifted its holdings in 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 buying an additional 23,622 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 1.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 143,956 shares of the company’s stock valued at $2,313,000 after buying an additional 1,463 shares during the period.

John Hancock Preferred Income Fund II Company Profile

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.