John Hancock Premium Dividend Fund (NYSE:PDT) Reaches New 1-Year Low – Here’s Why

John Hancock Premium Dividend Fund (NYSE:PDT) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $11.90 and last traded at $11.8850, with a volume of 97470 shares trading hands. The stock had previously closed at $12.10.

John Hancock Premium Dividend Fund Stock Performance

The stock has a 50-day simple moving average of $12.62 and a 200-day simple moving average of $12.87.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a $0.0883 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 8.9%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC raised its holdings in shares of John Hancock Premium Dividend Fund by 1.2% during the 1st quarter. Pathway Financial Advisers LLC now owns 231,745 shares of the real estate investment trust’s stock valued at $3,036,000 after buying an additional 2,702 shares during the period. 1607 Capital Partners LLC purchased a new position in John Hancock Premium Dividend Fund in the 4th quarter worth approximately $2,708,000. First Trust Advisors LP grew its position in John Hancock Premium Dividend Fund by 36.6% in the first quarter. First Trust Advisors LP now owns 142,765 shares of the real estate investment trust’s stock valued at $1,870,000 after acquiring an additional 38,256 shares in the last quarter. Absolute Investment Advisers LLC acquired a new stake in John Hancock Premium Dividend Fund in the first quarter valued at approximately $1,145,000. Finally, Kestra Advisory Services LLC raised its stake in shares of John Hancock Premium Dividend Fund by 18.6% during the first quarter. Kestra Advisory Services LLC now owns 86,676 shares of the real estate investment trust’s stock valued at $1,135,000 after purchasing an additional 13,576 shares during the period. Institutional investors and hedge funds own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Company Profile

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.