Short Interest in John Hancock Preferred Income ETF (NYSEARCA:JHPI) Grows By 210.4%

John Hancock Preferred Income ETF (NYSEARCA:JHPI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 101,001 shares, a growth of 210.4% from the August 15th total of 32,536 shares. Based on an average trading volume of 37,821 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.1% of the shares of the company are short sold.

Hedge Funds Weigh In On John Hancock Preferred Income ETF

Institutional investors have recently bought and sold shares of the company. Widmann Financial Services Inc. raised its position in John Hancock Preferred Income ETF by 74.3% during the 2nd quarter. Widmann Financial Services Inc. now owns 28,655 shares of the company’s stock worth $650,000 after buying an additional 12,215 shares during the last quarter. Robbins Farley lifted its stake in shares of John Hancock Preferred Income ETF by 8.3% in the 2nd quarter. Robbins Farley now owns 172,059 shares of the company’s stock worth $3,906,000 after acquiring an additional 13,177 shares during the period. Beacon Financial Advisory LLC boosted its holdings in shares of John Hancock Preferred Income ETF by 1.5% in the second quarter. Beacon Financial Advisory LLC now owns 38,712 shares of the company’s stock valued at $879,000 after acquiring an additional 556 shares in the last quarter. Compass Financial Management LLC purchased a new stake in shares of John Hancock Preferred Income ETF in the second quarter valued at about $106,000. Finally, FFG Retirement Advisors LLC increased its stake in shares of John Hancock Preferred Income ETF by 37.6% during the second quarter. FFG Retirement Advisors LLC now owns 233,827 shares of the company’s stock worth $5,308,000 after acquiring an additional 63,864 shares during the period.

John Hancock Preferred Income ETF Price Performance

Shares of JHPI stock traded up $0.01 during midday trading on Friday, hitting $22.25. The company had a trading volume of 76,283 shares, compared to its average volume of 48,615. The stock has a market cap of $209.15 million, a price-to-earnings ratio of 60.41 and a beta of 0.37. The company’s 50 day simple moving average is $22.57 and its 200 day simple moving average is $22.79. John Hancock Preferred Income ETF has a 52-week low of $22.15 and a 52-week high of $23.56.

John Hancock Preferred Income ETF Increases Dividend

The business also recently declared a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 29th were issued a dividend of $0.1434 per share. This is a boost from John Hancock Preferred Income ETF’s previous monthly dividend of $0.12. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Wednesday, July 29th.

John Hancock Preferred Income ETF Company Profile

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.