John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 94,284 shares, an increase of 118.0% from the February 12th total of 43,241 shares. Based on an average trading volume of 55,745 shares, the days-to-cover ratio is currently 1.7 days. Based on an average trading volume of 55,745 shares, the days-to-cover ratio is currently 1.7 days.

John Hancock Preferred Income Fund III Price Performance

HPS stock opened at $14.61 on Thursday. John Hancock Preferred Income Fund III has a 12 month low of $13.08 and a 12 month high of $15.68. The firm has a 50 day moving average of $14.64 and a two-hundred day moving average of $14.90.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be paid a $0.11 dividend. This represents a c) annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend is Thursday, March 12th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund III

Several hedge funds have recently bought and sold shares of HPS. Readystate Asset Management LP bought a new position in John Hancock Preferred Income Fund III during the fourth quarter valued at about $419,000. Royal Bank of Canada boosted its stake in shares of John Hancock Preferred Income Fund III by 2.5% during the 4th quarter. Royal Bank of Canada now owns 161,596 shares of the company’s stock worth $2,329,000 after acquiring an additional 4,002 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of John Hancock Preferred Income Fund III during the 4th quarter valued at about $92,000. Jane Street Group LLC acquired a new position in shares of John Hancock Preferred Income Fund III during the 4th quarter valued at about $215,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of John Hancock Preferred Income Fund III by 9.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 48,337 shares of the company’s stock valued at $697,000 after acquiring an additional 4,126 shares in the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.