John Hancock Preferred Income Fund II (NYSE:HPF) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its holdings in shares of John Hancock Preferred Income Fund II (NYSE:HPF) by 15.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 18,511 shares of the company’s stock after selling 3,289 shares during the quarter. Wedbush Securities Inc.’s holdings in John Hancock Preferred Income Fund II were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HPF. MSH Capital Advisors LLC acquired a new stake in shares of John Hancock Preferred Income Fund II in the 4th quarter valued at about $205,000. Raymond James Financial Inc. purchased a new stake in John Hancock Preferred Income Fund II in the fourth quarter valued at approximately $284,000. Vanguard Capital Wealth Advisors boosted its holdings in shares of John Hancock Preferred Income Fund II by 58.3% in the fourth quarter. Vanguard Capital Wealth Advisors now owns 19,000 shares of the company’s stock valued at $314,000 after acquiring an additional 7,000 shares during the period. Bank of America Corp DE grew its position in shares of John Hancock Preferred Income Fund II by 36.8% during the fourth quarter. Bank of America Corp DE now owns 20,035 shares of the company’s stock worth $332,000 after acquiring an additional 5,390 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of John Hancock Preferred Income Fund II by 58.1% in the 4th quarter. Wells Fargo & Company MN now owns 29,550 shares of the company’s stock valued at $489,000 after acquiring an additional 10,854 shares during the period.

John Hancock Preferred Income Fund II Trading Up 0.7%

HPF stock opened at $15.80 on Monday. The company has a fifty day moving average price of $15.81 and a 200 day moving average price of $16.21. John Hancock Preferred Income Fund II has a 12 month low of $14.56 and a 12 month high of $19.00.

John Hancock Preferred Income Fund II Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, July 11th will be issued a $0.1235 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.38%.

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.