John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Passes Above 50-Day Moving Average of $16.60

John Hancock Preferred Income Fund II (NYSE:HPFGet Free Report)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.60 and traded as high as $16.72. John Hancock Preferred Income Fund II shares last traded at $16.72, with a volume of 35,005 shares.

John Hancock Preferred Income Fund II Stock Performance

The firm’s 50 day moving average is $16.60 and its two-hundred day moving average is $16.16.

John Hancock Preferred Income Fund II Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 13th will be paid a dividend of $0.123 per share. This represents a $1.48 annualized dividend and a yield of 8.83%. The ex-dividend date is Friday, May 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HPF. International Assets Investment Management LLC raised its holdings in John Hancock Preferred Income Fund II by 1,366.2% during the 4th quarter. International Assets Investment Management LLC now owns 195,601 shares of the company’s stock worth $3,087,000 after buying an additional 182,260 shares during the period. Axim Planning & Wealth acquired a new stake in John Hancock Preferred Income Fund II during the 4th quarter worth approximately $1,389,000. Koshinski Asset Management Inc. raised its holdings in John Hancock Preferred Income Fund II by 59.2% during the 4th quarter. Koshinski Asset Management Inc. now owns 133,072 shares of the company’s stock worth $2,100,000 after buying an additional 49,466 shares during the period. Raymond James & Associates acquired a new stake in John Hancock Preferred Income Fund II during the 3rd quarter worth approximately $246,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in John Hancock Preferred Income Fund II during the 4th quarter worth approximately $187,000.

About John Hancock Preferred Income Fund II

(Get Free Report)

John Hancock Preferred Income Fund II 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.

Further Reading

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