John Hancock Preferred Income Fund III (NYSE:HPS) Stock Short Interest Report for September

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 1,034 shares, a decrease of 97.5% from the September 15th total of 40,637 shares. Based on an average trading volume of 166,226 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Arkfeld Wealth Strategies L.L.C. raised its stake in John Hancock Preferred Income Fund III by 3.4% during the first quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,464 shares of the company’s stock worth $368,000 after buying an additional 844 shares during the last quarter. Janney Montgomery Scott LLC raised its position in John Hancock Preferred Income Fund III by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock valued at $316,000 after buying an additional 1,987 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of John Hancock Preferred Income Fund III by 18.1% in the 2nd quarter. Focus Financial Network Inc. now owns 14,776 shares of the company’s stock worth $215,000 after buying an additional 2,260 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of John Hancock Preferred Income Fund III during the 2nd quarter valued at $38,000. Finally, NewEdge Advisors LLC increased its holdings in John Hancock Preferred Income Fund III by 17.9% during the second quarter. NewEdge Advisors LLC now owns 20,757 shares of the company’s stock worth $302,000 after buying an additional 3,157 shares during the last quarter.

John Hancock Preferred Income Fund III Stock Up 1.0%

Shares of HPS traded up $0.12 during midday trading on Friday, reaching $11.84. 137,264 shares of the stock were exchanged, compared to its average volume of 68,898. The stock’s 50 day simple moving average is $13.30 and its 200 day simple moving average is $14.04. John Hancock Preferred Income Fund III has a twelve month low of $11.52 and a twelve month high of $15.58.

John Hancock Preferred Income Fund III Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, October 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $1.32 annualized dividend and a yield of 11.2%.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a publicly traded closed-end fund listed on the New York Stock Exchange under the symbol HPS. The fund is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.

The fund’s primary objective is to provide a high level of current income. It invests mainly in preferred securities issued by companies in the financial, utility, telecommunications and other industries, while also investing in other income-producing securities when appropriate.