John Hancock Preferred Income Fund II (NYSE:HPF) Shares Cross Above 50 Day Moving Average – Here’s Why

John Hancock Preferred Income Fund II (NYSE:HPF)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $16.74 and traded as high as $16.85. John Hancock Preferred Income Fund II shares last traded at $16.73, with a volume of 21,352 shares trading hands.

John Hancock Preferred Income Fund II Stock Down 0.4 %

The firm’s fifty day moving average is $16.74 and its 200 day moving average is $17.25.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a dividend of $0.1235 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a $1.48 annualized dividend and a yield of 8.86%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of John Hancock Preferred Income Fund II by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 141,507 shares of the company’s stock valued at $2,639,000 after acquiring an additional 1,465 shares during the period. International Assets Investment Management LLC raised its position in John Hancock Preferred Income Fund II by 2,654.0% in the third quarter. International Assets Investment Management LLC now owns 23,271 shares of the company’s stock valued at $434,000 after purchasing an additional 22,426 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in John Hancock Preferred Income Fund II during the third quarter worth $33,000. Axim Planning & Wealth boosted its position in shares of John Hancock Preferred Income Fund II by 14.0% during the third quarter. Axim Planning & Wealth now owns 420,003 shares of the company’s stock worth $7,833,000 after buying an additional 51,730 shares during the period. Finally, Cornerstone Advisors LLC acquired a new stake in shares of John Hancock Preferred Income Fund II in the third quarter valued at $69,000.

About John Hancock Preferred Income Fund II

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.