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

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 291,200 shares, a growth of 30.0% from the June 30th total of 224,000 shares. Based on an average daily volume of 47,100 shares, the short-interest ratio is currently 6.2 days.

John Hancock Preferred Income Fund III Trading Up 0.6 %

HPS stock opened at $15.95 on Tuesday. The firm has a 50 day moving average price of $15.75 and a 200-day moving average price of $15.28. John Hancock Preferred Income Fund III has a 52-week low of $11.79 and a 52-week high of $16.33.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, July 11th will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Thursday, July 11th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

A number of institutional investors have recently modified their holdings of HPS. Concourse Financial Group Securities Inc. bought a new position in shares of John Hancock Preferred Income Fund III in the first quarter worth approximately $25,000. Global Retirement Partners LLC lifted its position in John Hancock Preferred Income Fund III by 255.1% in the 4th quarter. Global Retirement Partners LLC now owns 2,713 shares of the company’s stock valued at $39,000 after acquiring an additional 1,949 shares in the last quarter. Everpar Advisors LLC purchased a new stake in John Hancock Preferred Income Fund III during the 1st quarter valued at $170,000. Cetera Advisors LLC bought a new stake in shares of John Hancock Preferred Income Fund III in the 1st quarter worth $199,000. Finally, Pine Valley Investments Ltd Liability Co raised its stake in shares of John Hancock Preferred Income Fund III by 46.0% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 17,141 shares of the company’s stock worth $242,000 after purchasing an additional 5,400 shares during the last quarter.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.