LPL Financial LLC raised its stake in John Hancock Preferred Income (NYSE:HPI) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,097 shares of the company’s stock after purchasing an additional 14,570 shares during the period. LPL Financial LLC owned approximately 0.35% of John Hancock Preferred Income worth $1,973,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Global Trust Asset Management LLC acquired a new position in shares of John Hancock Preferred Income in the 4th quarter valued at $154,000. Citadel Advisors LLC acquired a new stake in shares of John Hancock Preferred Income during the 4th quarter worth about $408,000. Raymond James Financial Services Advisors Inc. increased its position in shares of John Hancock Preferred Income by 13.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 22,108 shares of the company’s stock worth $485,000 after purchasing an additional 2,589 shares in the last quarter. Private Advisor Group LLC increased its position in shares of John Hancock Preferred Income by 30.0% during the 3rd quarter. Private Advisor Group LLC now owns 23,102 shares of the company’s stock worth $503,000 after purchasing an additional 5,337 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of John Hancock Preferred Income by 45.9% during the 4th quarter. Advisor Group Inc. now owns 39,360 shares of the company’s stock worth $843,000 after purchasing an additional 12,381 shares in the last quarter.
Shares of John Hancock Preferred Income stock opened at $20.41 on Thursday. John Hancock Preferred Income has a 12-month low of $19.73 and a 12-month high of $22.58.
The company also recently announced a monthly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, April 12th will be given a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date of this dividend is Wednesday, April 11th.
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John Hancock Preferred Income Profile
John Hancock Preferred Income Fund is a closed-end, diversified management investment company. The Fund’s investment objective is to provide a high level of income consistent with preservation of capital, and to provide growth of capital. Normally, the Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in preferred stocks and other preferred securities, including convertible preferred securities.
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