John Hancock Hedged Equity & Income Fund (NYSE:HEQ) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

John Hancock Hedged Equity & Income Fund (NYSE:HEQ) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.25 and traded as high as $11.49. John Hancock Hedged Equity & Income Fund shares last traded at $11.4070, with a volume of 42,657 shares changing hands.

John Hancock Hedged Equity & Income Fund Price Performance

The firm’s fifty day simple moving average is $11.51 and its 200 day simple moving average is $11.25.

John Hancock Hedged Equity & Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Trading of John Hancock Hedged Equity & Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of HEQ. Bulldog Investors LLP lifted its holdings in John Hancock Hedged Equity & Income Fund by 46.2% in the first quarter. Bulldog Investors LLP now owns 558,291 shares of the investment management company’s stock valued at $6,063,000 after acquiring an additional 176,527 shares during the period. Bank of America Corp DE boosted its position in John Hancock Hedged Equity & Income Fund by 4.1% in the 1st quarter. Bank of America Corp DE now owns 304,521 shares of the investment management company’s stock worth $3,307,000 after purchasing an additional 11,907 shares in the last quarter. Saba Capital Management L.P. grew its stake in shares of John Hancock Hedged Equity & Income Fund by 11.0% during the 4th quarter. Saba Capital Management L.P. now owns 281,328 shares of the investment management company’s stock worth $3,024,000 after purchasing an additional 27,958 shares during the period. 1607 Capital Partners LLC grew its stake in shares of John Hancock Hedged Equity & Income Fund by 6.1% during the 4th quarter. 1607 Capital Partners LLC now owns 129,782 shares of the investment management company’s stock worth $1,395,000 after purchasing an additional 7,442 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of John Hancock Hedged Equity & Income Fund by 28.9% during the 4th quarter. Invesco Ltd. now owns 119,455 shares of the investment management company’s stock valued at $1,284,000 after purchasing an additional 26,747 shares in the last quarter.

About John Hancock Hedged Equity & Income Fund

The John Hancock Hedged Equity & Income Fund (NYSE: HEQ) is a closed-end management investment company that seeks to provide shareholders with a high level of income coupled with the potential for capital appreciation. Listed on the New York Stock Exchange, the fund is managed by John Hancock Investment Management, a subsidiary of Manulife Financial. The fund’s investment objective emphasizes total return, balancing dividend and option premium income with equity market participation.

The fund pursues its goal by investing primarily in a diversified portfolio of U.S.