John Hancock Premium Dividend Fund (NYSE:PDT) Sees Large Increase in Short Interest

John Hancock Premium Dividend Fund (NYSE:PDT) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 44,779 shares, a growth of 79.4% from the August 31st total of 24,955 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 149,845 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of John Hancock Premium Dividend Fund

Several hedge funds have recently added to or reduced their stakes in the stock. Arlington Capital Management Inc. grew its position in shares of John Hancock Premium Dividend Fund by 7.2% during the 2nd quarter. Arlington Capital Management Inc. now owns 21,440 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 1,441 shares during the period. Saba Capital Management L.P. bought a new stake in shares of John Hancock Premium Dividend Fund in the 1st quarter worth approximately $380,000. Cetera Investment Advisers raised its holdings in shares of John Hancock Premium Dividend Fund by 30.7% in the 1st quarter. Cetera Investment Advisers now owns 69,349 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 16,298 shares during the period. First Trust Advisors LP lifted its stake 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 purchasing an additional 38,256 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in John Hancock Premium Dividend Fund by 103.3% in the first quarter. PNC Financial Services Group Inc. now owns 10,638 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 5,405 shares during the last quarter. Institutional investors own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Trading Up 1.1%

Shares of John Hancock Premium Dividend Fund stock traded up $0.13 during trading hours on Tuesday, hitting $11.71. 126,796 shares of the company’s stock traded hands, compared to its average volume of 127,369. John Hancock Premium Dividend Fund has a 12-month low of $11.56 and a 12-month high of $13.65. The company has a fifty day simple moving average of $12.52 and a 200-day simple moving average of $12.83.

John Hancock Premium Dividend Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.0883 per share. This represents a $1.06 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Friday, September 11th.

About John Hancock Premium Dividend Fund

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.