John Hancock Preferred Income Fund II (NYSE:HPF) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of John Hancock Preferred Income Fund II (NYSE:HPFGet Free Report) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.97 and traded as high as $16.26. John Hancock Preferred Income Fund II shares last traded at $16.15, with a volume of 55,600 shares changing hands.

John Hancock Preferred Income Fund II Stock Down 0.5%

The stock’s fifty day moving average price is $15.97 and its 200-day moving average price is $16.09.

John Hancock Preferred Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 11th were issued a $0.1235 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date of this dividend was Monday, August 11th.

Institutional Investors Weigh In On John Hancock Preferred Income Fund II

A number of institutional investors and hedge funds have recently modified their holdings of HPF. J.W. Cole Advisors Inc. acquired a new position in John Hancock Preferred Income Fund II in the 1st quarter valued at about $1,742,000. Guggenheim Capital LLC acquired a new position in John Hancock Preferred Income Fund II in the 2nd quarter valued at about $687,000. Raymond James Financial Inc. acquired a new position in John Hancock Preferred Income Fund II in the 4th quarter valued at about $284,000. Wells Fargo & Company MN grew its stake in 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 buying an additional 10,854 shares during the last quarter. Finally, Invesco Ltd. grew its stake in John Hancock Preferred Income Fund II by 5.0% in the 2nd quarter. Invesco Ltd. now owns 159,319 shares of the company’s stock valued at $2,519,000 after buying an additional 7,579 shares during the last quarter.

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.

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