John Hancock Preferred Income ETF (NYSEARCA:JHPI) Sees Significant Increase in Short Interest

John Hancock Preferred Income ETF (NYSEARCA:JHPI) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 89,609 shares, an increase of 299.1% from the January 29th total of 22,451 shares. Based on an average daily volume of 39,107 shares, the short-interest ratio is presently 2.3 days. Currently, 1.4% of the company’s shares are short sold. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 39,107 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JHPI. Granite Bay Wealth Management LLC raised its position in shares of John Hancock Preferred Income ETF by 8.8% during the 4th quarter. Granite Bay Wealth Management LLC now owns 769,129 shares of the company’s stock worth $17,565,000 after purchasing an additional 62,491 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of John Hancock Preferred Income ETF by 421.7% in the third quarter. Private Advisor Group LLC now owns 758,690 shares of the company’s stock valued at $17,579,000 after acquiring an additional 613,277 shares in the last quarter. LPL Financial LLC increased its position in John Hancock Preferred Income ETF by 31.4% during the 4th quarter. LPL Financial LLC now owns 648,267 shares of the company’s stock worth $14,804,000 after purchasing an additional 154,995 shares in the last quarter. Eldridge Investment Advisors Inc. raised its stake in John Hancock Preferred Income ETF by 6.8% in the 4th quarter. Eldridge Investment Advisors Inc. now owns 540,006 shares of the company’s stock valued at $12,332,000 after purchasing an additional 34,614 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in John Hancock Preferred Income ETF by 9.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 227,329 shares of the company’s stock valued at $5,191,000 after purchasing an additional 20,147 shares in the last quarter.

John Hancock Preferred Income ETF Stock Performance

JHPI stock opened at $23.17 on Friday. The firm has a market cap of $148.29 million, a PE ratio of 60.41 and a beta of 0.40. John Hancock Preferred Income ETF has a one year low of $21.57 and a one year high of $23.56. The firm’s 50 day moving average price is $23.09 and its 200-day moving average price is $23.09.

John Hancock Preferred Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Investors of record on Wednesday, February 25th were given a $0.0365 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, February 25th.

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.