Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Drops By 70.4%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 43,236 shares, a drop of 70.4% from the May 31st total of 145,862 shares. Based on an average daily volume of 37,024 shares, the short-interest ratio is presently 1.2 days. Currently, 0.6% of the shares of the stock are sold short.

John Hancock Preferred Income ETF Stock Down 0.6%

Shares of JHPI stock traded down $0.13 during trading hours on Friday, hitting $22.66. 34,676 shares of the company’s stock were exchanged, compared to its average volume of 50,638. The firm has a market cap of $176.75 million, a P/E ratio of 60.41 and a beta of 0.37. The firm has a 50 day moving average of $22.91 and a two-hundred day moving average of $22.97. John Hancock Preferred Income ETF has a fifty-two week low of $22.42 and a fifty-two week high of $23.56.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in John Hancock Preferred Income ETF in the 4th quarter valued at about $48,000. International Assets Investment Management LLC purchased a new stake in shares of John Hancock Preferred Income ETF during the fourth quarter worth approximately $75,000. Farther Finance Advisors LLC increased its position in shares of John Hancock Preferred Income ETF by 114.6% during the fourth quarter. Farther Finance Advisors LLC now owns 7,829 shares of the company’s stock worth $179,000 after purchasing an additional 4,180 shares in the last quarter. Spire Wealth Management lifted its holdings in John Hancock Preferred Income ETF by 279.1% in the 4th quarter. Spire Wealth Management now owns 8,150 shares of the company’s stock valued at $186,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in John Hancock Preferred Income ETF by 47.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 10,974 shares of the company’s stock worth $251,000 after purchasing an additional 3,512 shares during the last quarter.

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.