John Hancock Premium Dividend Fund (NYSE:PDT) Sees Large Volume Increase – Should You Buy?

Shares of John Hancock Premium Dividend Fund (NYSE:PDT) saw an uptick in trading volume on Tuesday . 36,758 shares traded hands during trading, a decline of 51% from the previous session’s volume of 74,653 shares.The stock last traded at $12.68 and had previously closed at $12.75.

John Hancock Premium Dividend Fund Trading Down 0.2 %

The stock’s fifty day moving average price is $12.77 and its 200 day moving average price is $12.67.

John Hancock Premium Dividend Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be issued a $0.0825 dividend. This represents a $0.99 annualized dividend and a yield of 7.78%. The ex-dividend date is Monday, January 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new stake in John Hancock Premium Dividend Fund in the 2nd quarter worth approximately $164,000. HighTower Advisors LLC purchased a new stake in shares of John Hancock Premium Dividend Fund in the third quarter worth $212,000. EP Wealth Advisors LLC purchased a new stake in shares of John Hancock Premium Dividend Fund in the third quarter worth $229,000. J.W. Cole Advisors Inc. raised its position in shares of John Hancock Premium Dividend Fund by 7.3% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 17,921 shares of the real estate investment trust’s stock valued at $211,000 after purchasing an additional 1,221 shares during the period. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of John Hancock Premium Dividend Fund during the 3rd quarter valued at $291,000. 12.98% of the stock is owned by hedge funds and other institutional investors.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund is a closed ended equity 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 public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.