John Hancock Premium Dividend Fund (NYSE:PDT) Sets New 52-Week Low – Should You Sell?

John Hancock Premium Dividend Fund (NYSE:PDT) shares hit a new 52-week low during trading on Tuesday. The stock traded as low as $11.56 and last traded at $11.5850, with a volume of 185804 shares traded. The stock had previously closed at $11.78.

John Hancock Premium Dividend Fund Price Performance

The business’s 50 day moving average is $12.48 and its 200 day moving average is $12.80.

John Hancock Premium Dividend Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were paid a dividend of $0.0883 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 9.0%.

Institutional Investors Weigh In On John Hancock Premium Dividend Fund

Several institutional investors and hedge funds have recently modified their holdings of PDT. SHP Wealth Management acquired a new position in John Hancock Premium Dividend Fund during the 4th quarter worth $27,000. Fifth Third Bancorp acquired a new stake in shares of John Hancock Premium Dividend Fund in the first quarter valued at about $115,000. PNC Financial Services Group Inc. increased its stake in shares of John Hancock Premium Dividend Fund by 103.3% in the first quarter. PNC Financial Services Group Inc. now owns 10,638 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 5,405 shares during the period. Abel Hall LLC bought a new position in shares of John Hancock Premium Dividend Fund in the first quarter worth about $196,000. Finally, Independent Financial Group LLC acquired a new position in shares of John Hancock Premium Dividend Fund during the 1st quarter worth about $232,000. Institutional investors and hedge funds own 12.98% of the company’s stock.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund (NYSE: PDT) is a closed-end management investment company that seeks to provide current income and long-term capital appreciation. The fund invests primarily in dividend-paying securities, including preferred and common stocks, with an emphasis on companies in the utility and energy sectors.

The fund’s portfolio may include securities issued by electric, gas and water utilities, telecommunications companies, pipelines and other infrastructure-related businesses.