John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Update

John Hancock Preferred Income Fund II (NYSE:HPF) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 129,686 shares, a growth of 57.0% from the May 14th total of 82,586 shares. Based on an average daily volume of 42,864 shares, the short-interest ratio is currently 3.0 days.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors have recently added to or reduced their stakes in HPF. Western Wealth Management LLC bought a new position in John Hancock Preferred Income Fund II in the 1st quarter worth about $66,000. Jane Street Group LLC bought a new position in John Hancock Preferred Income Fund II in the 4th quarter worth about $180,000. Readystate Asset Management LP bought a new position in John Hancock Preferred Income Fund II in the 3rd quarter worth about $195,000. NewEdge Advisors LLC increased its stake 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 worth $319,000 after acquiring an additional 770 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new position in John Hancock Preferred Income Fund II in the 4th quarter worth about $322,000.

John Hancock Preferred Income Fund II Price Performance

NYSE HPF traded down $0.02 during trading on Wednesday, reaching $15.89. The company’s stock had a trading volume of 17,173 shares, compared to its average volume of 38,026. The firm has a fifty day moving average of $15.90 and a 200 day moving average of $15.98. John Hancock Preferred Income Fund II has a one year low of $15.06 and a one year high of $17.13.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a $0.1235 dividend. This represents a c) dividend on an annualized basis and a yield of 9.3%. The ex-dividend date is Thursday, June 11th.

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.