John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Down 5.7% in March

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 160,200 shares, a drop of 5.7% from the March 15th total of 169,900 shares. Based on an average daily trading volume, of 57,200 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Activest Wealth Management acquired a new position in John Hancock Preferred Income Fund III during the fourth quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its holdings in John Hancock Preferred Income Fund III by 255.1% in the fourth quarter. Global Retirement Partners LLC now owns 2,713 shares of the company’s stock valued at $39,000 after buying an additional 1,949 shares during the period. Ramirez Asset Management Inc. acquired a new position in shares of John Hancock Preferred Income Fund III in the 3rd quarter valued at about $47,000. Sunbelt Securities Inc. acquired a new position in John Hancock Preferred Income Fund III in the first quarter valued at approximately $94,000. Finally, Captrust Financial Advisors bought a new position in John Hancock Preferred Income Fund III during the second quarter worth $103,000.

John Hancock Preferred Income Fund III Trading Up 1.2 %

NYSE:HPS traded up $0.18 on Wednesday, hitting $14.78. 117,360 shares of the company’s stock were exchanged, compared to its average volume of 62,815. John Hancock Preferred Income Fund III has a 52 week low of $11.79 and a 52 week high of $15.55. The firm has a 50-day moving average price of $15.08 and a 200-day moving average price of $14.02.

John Hancock Preferred Income Fund III Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, April 11th will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date of this dividend is Wednesday, April 10th.

John Hancock Preferred Income Fund III Company Profile

John Hancock Preferred Income Fund III 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.