John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Decrease in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 9,883 shares, a decline of 49.7% from the May 31st total of 19,645 shares. Based on an average daily trading volume, of 140,150 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

John Hancock Premium Dividend Fund Trading Up 0.1%

Shares of John Hancock Premium Dividend Fund stock traded up $0.01 on Thursday, hitting $12.93. The company had a trading volume of 86,225 shares, compared to its average volume of 129,049. The business has a 50-day simple moving average of $12.89 and a 200-day simple moving average of $13.00. John Hancock Premium Dividend Fund has a 52 week low of $12.53 and a 52 week high of $13.65.

John Hancock Premium Dividend Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 13th will be given a $0.0883 dividend. This represents a c) dividend on an annualized basis and a yield of 8.2%. This is a positive change from John Hancock Premium Dividend Fund’s previous monthly dividend of $0.08. The ex-dividend date is Monday, July 13th.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Several hedge funds have recently modified their holdings of PDT. Northwestern Mutual Wealth Management Co. raised its stake in shares of John Hancock Premium Dividend Fund by 43.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,864 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 864 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in John Hancock Premium Dividend Fund by 36.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,328 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 889 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in John Hancock Premium Dividend Fund by 0.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 229,043 shares of the real estate investment trust’s stock worth $2,909,000 after acquiring an additional 917 shares during the period. Ausdal Financial Partners Inc. raised its position in John Hancock Premium Dividend Fund by 2.6% in the fourth quarter. Ausdal Financial Partners Inc. now owns 57,863 shares of the real estate investment trust’s stock worth $735,000 after acquiring an additional 1,447 shares in the last quarter. Finally, &PARTNERS raised its position in John Hancock Premium Dividend Fund by 4.0% in the fourth quarter. &PARTNERS now owns 48,708 shares of the real estate investment trust’s stock worth $619,000 after acquiring an additional 1,852 shares in the last quarter. 12.98% of the stock is currently owned by institutional investors and hedge funds.

About John Hancock Premium Dividend Fund

The John Hancock Premium Dividend Fund (NYSE:PDT) is a publicly traded, closed-end management investment company designed to deliver high current income and potential capital growth. The fund’s core strategy centers on dividend-paying and income-producing securities, combining equity and fixed-income instruments to achieve a balanced risk-return profile.

Managed by John Hancock Investment Management (US) LLC, a subsidiary of Manulife Financial Corporation, the fund primarily allocates assets to dividend-paying common stocks and preferred stocks of U.S.