John Hancock Preferred Income Fund (NYSE:HPI) Stock Price Crosses Below 50-Day Moving Average of $15.18

John Hancock Preferred Income Fund (NYSE:HPI – Get Rating)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $15.18 and traded as low as $14.29. John Hancock Preferred Income Fund shares last traded at $14.29, with a volume of 42,887 shares.

John Hancock Preferred Income Fund Stock Up 0.5 %

The firm’s fifty day moving average is $15.14 and its two-hundred day moving average is $16.05.

John Hancock Preferred Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Thursday, May 11th will be issued a dividend of $0.1235 per share. This represents a $1.48 annualized dividend and a dividend yield of 10.43%. The ex-dividend date of this dividend is Wednesday, May 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors purchased a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter valued at about $1,804,000. International Assets Investment Management LLC purchased a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter valued at about $1,143,000. Shaker Financial Services LLC purchased a new stake in shares of John Hancock Preferred Income Fund during the 4th quarter valued at about $1,021,000. Atria Wealth Solutions Inc. purchased a new stake in shares of John Hancock Preferred Income Fund during the 1st quarter valued at about $983,000. Finally, Guggenheim Capital LLC raised its position in shares of John Hancock Preferred Income Fund by 77.6% during the 1st quarter. Guggenheim Capital LLC now owns 106,682 shares of the company’s stock valued at $2,064,000 after buying an additional 46,615 shares in the last quarter.

About John Hancock Preferred Income Fund

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John Hancock Preferred Income Fund operates as a closed-end investment fund/investment trust. It seeks to provide a high level of current income consistent with preservation of capital by investing its assets in preferred stocks or other preferred securities, including convertible preferred securities.