John Hancock Preferred Income Fund II (NYSE:HPF) Shares Cross Below 50 Day Moving Average – What’s Next?

John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $16.53 and traded as low as $16.03. John Hancock Preferred Income Fund II shares last traded at $16.0450, with a volume of 40,058 shares trading hands.

John Hancock Preferred Income Fund II Stock Performance

The firm has a 50 day simple moving average of $16.53 and a two-hundred day simple moving average of $16.26.

John Hancock Preferred Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th will be paid a $0.1235 dividend. This represents a c) dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Thursday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its position in shares of John Hancock Preferred Income Fund II by 8.2% during the 3rd quarter. UBS Group AG now owns 339,995 shares of the company’s stock valued at $5,729,000 after purchasing an additional 25,779 shares in the last quarter. Axim Planning & Wealth increased its stake in shares of John Hancock Preferred Income Fund II by 3.3% during the third quarter. Axim Planning & Wealth now owns 332,810 shares of the company’s stock valued at $5,608,000 after buying an additional 10,752 shares during the period. Invesco Ltd. boosted its stake in shares of John Hancock Preferred Income Fund II by 14.8% during the 3rd quarter. Invesco Ltd. now owns 182,941 shares of the company’s stock valued at $3,083,000 after purchasing an additional 23,622 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of John Hancock Preferred Income Fund II by 7.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 142,493 shares of the company’s stock worth $2,401,000 after acquiring an additional 9,998 shares during the period. Finally, Guggenheim Capital LLC purchased a new position in John Hancock Preferred Income Fund II during the second quarter valued at $687,000.

John Hancock Preferred Income Fund II Company Profile

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.