John Hancock Preferred Income Fund III (NYSE:HPS) Short Interest Update

John Hancock Preferred Income Fund III (NYSE:HPS) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 61,800 shares, a decrease of 29.1% from the August 31st total of 87,200 shares. Based on an average daily volume of 63,100 shares, the short-interest ratio is currently 1.0 days.

Hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of John Hancock Preferred Income Fund III by 97.4% during the 1st quarter. Citigroup Inc. now owns 11,194 shares of the company’s stock worth $153,000 after acquiring an additional 5,523 shares in the last quarter. Invesco Ltd. lifted its stake in John Hancock Preferred Income Fund III by 6.7% in the 1st quarter. Invesco Ltd. now owns 284,168 shares of the company’s stock valued at $3,882,000 after buying an additional 17,772 shares in the last quarter. Western Wealth Management LLC lifted its stake in John Hancock Preferred Income Fund III by 7.9% in the 2nd quarter. Western Wealth Management LLC now owns 31,239 shares of the company’s stock valued at $499,000 after buying an additional 2,300 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its stake in John Hancock Preferred Income Fund III by 7.3% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 22,175 shares of the company’s stock valued at $348,000 after buying an additional 1,500 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in John Hancock Preferred Income Fund III by 2.4% in the 1st quarter. Guggenheim Capital LLC now owns 56,424 shares of the company’s stock valued at $771,000 after buying an additional 1,319 shares in the last quarter.

Shares of NYSE HPS traded up $0.07 during mid-day trading on Thursday, hitting $16.05. The stock had a trading volume of 4,558 shares, compared to its average volume of 103,890. The company has a 50 day moving average of $16.36 and a two-hundred day moving average of $15.41. John Hancock Preferred Income Fund III has a twelve month low of $8.05 and a twelve month high of $20.15.

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 8.22%. The ex-dividend date was Thursday, September 10th.

About John Hancock Preferred Income Fund III

John Hancock Preferred Income Fund III is a closed ended fixed income mutual fund launched and managed by John Hancock Advisers, 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.

Recommended Story: Market Capitalization in the Stock Market

Receive News & Ratings for John Hancock Preferred Income Fund III Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Hancock Preferred Income Fund III and related companies with MarketBeat.com's FREE daily email newsletter.