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

John Hancock Preferred Income Fund (NYSE:HPI)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $18.27 and traded as low as $17.61. John Hancock Preferred Income Fund shares last traded at $17.77, with a volume of 37,786 shares.

John Hancock Preferred Income Fund Trading Up 0.3 %

The stock’s fifty day simple moving average is $18.27 and its 200-day simple moving average is $17.32.

John Hancock Preferred Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.1235 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.48 dividend on an annualized basis and a yield of 8.34%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund

A number of hedge funds have recently added to or reduced their stakes in HPI. US Bancorp DE acquired a new stake in John Hancock Preferred Income Fund during the 3rd quarter worth approximately $95,000. Wedbush Securities Inc. increased its position in shares of John Hancock Preferred Income Fund by 5.3% in the 2nd quarter. Wedbush Securities Inc. now owns 11,883 shares of the company’s stock valued at $199,000 after purchasing an additional 600 shares during the last quarter. Private Advisor Group LLC increased its position in shares of John Hancock Preferred Income Fund by 10.5% in the 1st quarter. Private Advisor Group LLC now owns 21,964 shares of the company’s stock valued at $365,000 after purchasing an additional 2,086 shares during the last quarter. SAM Advisors LLC increased its position in shares of John Hancock Preferred Income Fund by 3.4% in the 3rd quarter. SAM Advisors LLC now owns 26,937 shares of the company’s stock valued at $510,000 after purchasing an additional 886 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of John Hancock Preferred Income Fund by 1.7% in the 2nd quarter. Raymond James & Associates now owns 80,060 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,351 shares during the last quarter.

John Hancock Preferred Income Fund Company Profile

John Hancock Preferred Income Fund is a closed ended balanced 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 public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.