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

John Hancock Preferred Income Fund III (NYSE:HPS) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 17,995 shares, an increase of 1,640.3% from the September 30th total of 1,034 shares. Based on an average daily trading volume, of 163,681 shares, the days-to-cover ratio is presently 0.1 days.

John Hancock Preferred Income Fund III Price Performance

NYSE:HPS traded down $0.03 during trading hours on Monday, hitting $11.59. 94,901 shares of the stock traded hands, compared to its average volume of 74,478. The firm has a 50 day moving average price of $12.73 and a 200 day moving average price of $14.05. John Hancock Preferred Income Fund III has a fifty-two week low of $11.39 and a fifty-two week high of $15.54.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, October 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.4%.

Institutional Investors Weigh In On John Hancock Preferred Income Fund III

Several institutional investors and hedge funds have recently added to or reduced their stakes in HPS. Shaker Financial Services LLC bought a new position in shares of John Hancock Preferred Income Fund III in the third quarter worth about $1,097,000. B. Riley Wealth Advisors Inc. increased its position in John Hancock Preferred Income Fund III by 9.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 12,334 shares of the company’s stock worth $148,000 after acquiring an additional 1,039 shares during the period. Integrated Wealth Concepts LLC bought a new stake in John Hancock Preferred Income Fund III in the 2nd quarter valued at $38,000. NewEdge Advisors LLC boosted its holdings in John Hancock Preferred Income Fund III by 17.9% in the 2nd quarter. NewEdge Advisors LLC now owns 20,757 shares of the company’s stock valued at $302,000 after purchasing an additional 3,157 shares during the period. Finally, Readystate Asset Management LP acquired a new position in shares of John Hancock Preferred Income Fund III during the second quarter valued at about $253,000.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III is a closed-end investment fund listed on the New York Stock Exchange under the symbol HPS. The fund seeks to provide a high level of current income by investing primarily in preferred securities and other income-producing investments.

The fund’s portfolio may include preferred stocks, preferred securities issued by financial institutions and other companies, corporate debt securities, and convertible securities. These investments can provide exposure to a range of industries and may include issuers based in the United States and other countries, subject to the fund’s investment policies.

John Hancock Preferred Income Fund III is managed by John Hancock Investment Management, an asset-management business of Manulife Investment Management.