John Hancock Preferred Income Fund III (NYSE:HPS) Stock Price Crosses Below 50 Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund III (NYSE:HPS) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $14.47 and traded as low as $14.35. John Hancock Preferred Income Fund III shares last traded at $14.40, with a volume of 33,096 shares changing hands.

John Hancock Preferred Income Fund III Price Performance

The business’s fifty day moving average is $14.47 and its two-hundred day moving average is $14.98.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 12th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 9.17%. The ex-dividend date of this dividend is Monday, May 12th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several institutional investors have recently modified their holdings of the business. Invesco Ltd. lifted its stake in John Hancock Preferred Income Fund III by 10.8% during the 4th quarter. Invesco Ltd. now owns 227,301 shares of the company’s stock valued at $3,416,000 after acquiring an additional 22,161 shares during the period. Mariner LLC bought a new position in John Hancock Preferred Income Fund III during the fourth quarter valued at approximately $223,000. Guggenheim Capital LLC purchased a new stake in John Hancock Preferred Income Fund III in the fourth quarter worth approximately $325,000. Raymond James Financial Inc. bought a new stake in John Hancock Preferred Income Fund III in the 4th quarter worth approximately $311,000. Finally, Wedbush Securities Inc. raised its stake in John Hancock Preferred Income Fund III by 6.3% during the 4th quarter. Wedbush Securities Inc. now owns 24,210 shares of the company’s stock valued at $364,000 after buying an additional 1,428 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.