John Hancock Preferred Income Fund II (NYSE:HPF) Stock Passes Below 50 Day Moving Average of $16.35

John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.35 and traded as low as $16.21. John Hancock Preferred Income Fund II shares last traded at $16.31, with a volume of 142,892 shares changing hands.

John Hancock Preferred Income Fund II Trading Up 0.3 %

The business has a 50-day moving average price of $16.36 and a 200 day moving average price of $15.62.

John Hancock Preferred Income Fund II Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 11th will be given a dividend of $0.1235 per share. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.06%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Axim Planning & Wealth raised its holdings in John Hancock Preferred Income Fund II by 90.0% during the 1st quarter. Axim Planning & Wealth now owns 167,193 shares of the company’s stock valued at $2,764,000 after buying an additional 79,193 shares during the period. Global Retirement Partners LLC raised its holdings in John Hancock Preferred Income Fund II by 101.4% during the 1st quarter. Global Retirement Partners LLC now owns 3,343 shares of the company’s stock valued at $55,000 after buying an additional 1,683 shares during the period. Atria Wealth Solutions Inc. raised its holdings in John Hancock Preferred Income Fund II by 8.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 16,745 shares of the company’s stock valued at $264,000 after buying an additional 1,302 shares during the period. Koshinski Asset Management Inc. raised its holdings in John Hancock Preferred Income Fund II by 59.2% during the 4th quarter. Koshinski Asset Management Inc. now owns 133,072 shares of the company’s stock valued at $2,100,000 after buying an additional 49,466 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in John Hancock Preferred Income Fund II by 1,366.2% during the 4th quarter. International Assets Investment Management LLC now owns 195,601 shares of the company’s stock valued at $3,087,000 after buying an additional 182,260 shares during the period.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.