John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Growth in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 43,000 shares, a growth of 87.8% from the February 28th total of 22,900 shares. Based on an average daily volume of 118,800 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Trading of John Hancock Premium Dividend Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC acquired a new position in John Hancock Premium Dividend Fund in the 3rd quarter valued at about $212,000. Safe Harbor Fiduciary LLC acquired a new position in shares of John Hancock Premium Dividend Fund in the third quarter valued at approximately $291,000. Jane Street Group LLC acquired a new position in shares of John Hancock Premium Dividend Fund in the third quarter valued at approximately $382,000. EP Wealth Advisors LLC purchased a new position in shares of John Hancock Premium Dividend Fund during the third quarter valued at approximately $229,000. Finally, Sound Income Strategies LLC boosted its position in John Hancock Premium Dividend Fund by 112.3% during the fourth quarter. Sound Income Strategies LLC now owns 1,923 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,017 shares during the last quarter. 12.98% of the stock is currently owned by hedge funds and other institutional investors.

John Hancock Premium Dividend Fund Trading Up 0.5 %

Shares of John Hancock Premium Dividend Fund stock traded up $0.07 during trading on Friday, hitting $12.99. 111,055 shares of the company were exchanged, compared to its average volume of 111,202. John Hancock Premium Dividend Fund has a fifty-two week low of $10.65 and a fifty-two week high of $13.55. The firm has a 50 day moving average price of $12.84 and a 200 day moving average price of $12.92.

John Hancock Premium Dividend Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 13th will be given a dividend of $0.0825 per share. This represents a $0.99 annualized dividend and a yield of 7.62%. The ex-dividend date is Thursday, March 13th.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund is a closed ended equity 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 markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.