John Hancock Preferred Income Fund II (NYSE:HPF) Short Interest Up 57.0% in May

John Hancock Preferred Income Fund II (NYSE:HPF) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 129,686 shares, a growth of 57.0% from the May 14th total of 82,586 shares. Based on an average trading volume of 42,864 shares, the short-interest ratio is currently 3.0 days.

John Hancock Preferred Income Fund II Stock Performance

HPF traded up $0.04 on Tuesday, reaching $15.91. 9,508 shares of the stock were exchanged, compared to its average volume of 38,195. The company’s 50-day moving average price is $15.89 and its 200 day moving average price is $15.98. John Hancock Preferred Income Fund II has a fifty-two week low of $15.06 and a fifty-two week high of $17.13.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th will be paid a dividend of $0.1235 per share. This represents a c) annualized dividend and a yield of 9.3%. The ex-dividend date is Thursday, June 11th.

Institutional Trading of John Hancock Preferred Income Fund II

Several large investors have recently added to or reduced their stakes in HPF. Western Wealth Management LLC purchased a new stake in John Hancock Preferred Income Fund II during the 1st quarter valued at about $66,000. Jane Street Group LLC purchased a new stake in John Hancock Preferred Income Fund II during the 4th quarter valued at about $180,000. Readystate Asset Management LP purchased a new stake in John Hancock Preferred Income Fund II during the 3rd quarter valued at about $195,000. NewEdge Advisors LLC grew its stake in John Hancock Preferred Income Fund II by 4.0% during the 2nd quarter. NewEdge Advisors LLC now owns 20,178 shares of the company’s stock valued at $319,000 after purchasing an additional 770 shares during the last quarter. Finally, Kestra Private Wealth Services LLC purchased a new stake in John Hancock Preferred Income Fund II during the 4th quarter valued at about $322,000.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II (NYSE: HPF) is a closed-end management investment company that seeks to provide a high level of current income, with a secondary objective of capital appreciation. Listed on the New York Stock Exchange, the fund primarily invests in preferred securities issued by U.S. and, to a lesser extent, international issuers. Its diversified portfolio may include investment-grade and below-investment-grade preferred stocks, corporate debt securities, convertible securities and, when deemed appropriate, common equity.

Launched in June 2006, HPF employs leverage through preferred share borrowings and other forms of financing to enhance income potential.