John Hancock Preferred Income Fund II (NYSE:HPF) Shares Cross Below 50-Day Moving Average of $16.35

John Hancock Preferred Income Fund II (NYSE:HPF) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $16.35 and traded as low as $16.21. John Hancock Preferred Income Fund II shares last traded at $16.31, with a volume of 142,892 shares changing hands.

John Hancock Preferred Income Fund II Stock Performance

The business has a 50-day simple moving average of $16.36 and a two-hundred day simple moving average of $15.62.

John Hancock Preferred Income Fund II Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, April 11th will be given a dividend of $0.1235 per share. The ex-dividend date is Wednesday, April 10th. This represents a $1.48 dividend on an annualized basis and a yield of 9.06%.

Institutional Trading of John Hancock Preferred Income Fund II

A number of hedge funds have recently added to or reduced their stakes in HPF. Wolverine Asset Management LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the 3rd quarter worth approximately $25,000. Global Retirement Partners LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the 4th quarter worth approximately $27,000. Anchor Investment Management LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the 4th quarter worth approximately $33,000. Selway Asset Management purchased a new position in shares of John Hancock Preferred Income Fund II during the 3rd quarter worth approximately $129,000. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of John Hancock Preferred Income Fund II during the 4th quarter worth approximately $187,000.

John Hancock Preferred Income Fund II Company Profile

John Hancock Preferred Income Fund II 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.