John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $15.92 and traded as low as $15.91. John Hancock Preferred Income Fund II shares last traded at $15.92, with a volume of 29,159 shares.

John Hancock Preferred Income Fund II Stock Up 0.2%

The company has a 50 day moving average of $15.91 and a 200-day moving average of $15.94.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a $0.1235 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, July 13th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

A number of hedge funds have recently bought and sold shares of the business. Western Wealth Management LLC bought a new stake in John Hancock Preferred Income Fund II in the 1st quarter valued at about $66,000. Jane Street Group LLC acquired a new position in shares of John Hancock Preferred Income Fund II during the 4th quarter worth approximately $180,000. NewEdge Advisors LLC increased its holdings in shares of John Hancock Preferred Income Fund II by 4.0% during the second quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock worth $319,000 after purchasing an additional 770 shares during the period. Kestra Private Wealth Services LLC acquired a new stake in shares of John Hancock Preferred Income Fund II in the fourth quarter valued at approximately $322,000. Finally, Raymond James Financial Inc. boosted its stake in shares of John Hancock Preferred Income Fund II by 6.7% in the second quarter. Raymond James Financial Inc. now owns 20,762 shares of the company’s stock valued at $328,000 after buying an additional 1,299 shares during the period.

John Hancock Preferred Income Fund II Company Profile

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.