John Hancock Preferred Income Fund II (NYSE:HPF) Stock Crosses Below 50 Day Moving Average – Here’s Why

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 $15.76 and traded as low as $14.93. John Hancock Preferred Income Fund II shares last traded at $14.96, with a volume of 81,859 shares trading hands.

John Hancock Preferred Income Fund II Stock Performance

The business’s 50 day simple moving average is $15.73 and its two-hundred day simple moving average is $15.81.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 10.0%.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in John Hancock Preferred Income Fund II in the second quarter valued at about $26,000. Western Wealth Management LLC bought a new stake in shares of John Hancock Preferred Income Fund II during the first quarter worth about $66,000. Jane Street Group LLC acquired a new position in shares of John Hancock Preferred Income Fund II in the fourth quarter valued at approximately $180,000. Arlington Capital Management Inc. acquired a new position in shares of John Hancock Preferred Income Fund II in the second quarter valued at approximately $255,000. Finally, NewEdge Advisors LLC raised its holdings in John Hancock Preferred Income Fund II by 4.0% in the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after buying an additional 770 shares during the last quarter.

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.