John Hancock Preferred Income Fund III (NYSE:HPS) Share Price Crosses Below 50-Day Moving Average – Here’s Why

John Hancock Preferred Income Fund III (NYSE:HPS)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.44 and traded as low as $14.33. John Hancock Preferred Income Fund III shares last traded at $14.35, with a volume of 35,036 shares traded.

John Hancock Preferred Income Fund III Stock Down 0.3%

The firm has a 50 day moving average price of $14.44 and a 200-day moving average price of $14.52.

John Hancock Preferred Income Fund III Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be given a dividend of $0.11 per share. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Monday, July 13th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Western Wealth Management LLC purchased a new position in shares of John Hancock Preferred Income Fund III during the first quarter worth about $459,000. Royal Bank of Canada raised its stake in John Hancock Preferred Income Fund III by 2.1% during the 1st quarter. Royal Bank of Canada now owns 164,919 shares of the company’s stock valued at $2,348,000 after acquiring an additional 3,323 shares during the last quarter. Fifth Third Bancorp purchased a new stake in John Hancock Preferred Income Fund III during the 1st quarter valued at approximately $92,000. Janney Montgomery Scott LLC lifted its position in John Hancock Preferred Income Fund III by 9.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the company’s stock worth $316,000 after acquiring an additional 1,987 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in John Hancock Preferred Income Fund III during the 4th quarter worth approximately $92,000.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III (NYSE:HPS) is a publicly traded, closed-end management investment company that seeks to provide a high level of current income. The fund offers investors access to a diversified portfolio of income-producing securities, with a primary focus on preferred stocks and similar instruments. As a closed-end fund, HPS issues a fixed number of shares that trade on the New York Stock Exchange, allowing investors to participate in its income strategy through the open market.

The fund pursues its objective by investing primarily in preferred securities of U.S.