Commonwealth Equity Services LLC trimmed its holdings in shares of John Hancock Preferred Income Fund III (NYSE:HPS – Free Report) by 32.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,610 shares of the company’s stock after selling 21,690 shares during the period. Commonwealth Equity Services LLC’s holdings in John Hancock Preferred Income Fund III were worth $686,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Sowell Financial Services LLC acquired a new position in John Hancock Preferred Income Fund III during the fourth quarter worth $698,000. Pine Valley Investments Ltd Liability Co boosted its position in shares of John Hancock Preferred Income Fund III by 153.9% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 49,357 shares of the company’s stock worth $742,000 after purchasing an additional 29,916 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of John Hancock Preferred Income Fund III during the 4th quarter worth $399,000. Janney Montgomery Scott LLC purchased a new position in shares of John Hancock Preferred Income Fund III in the 4th quarter valued at about $358,000. Finally, Tallon Kerry Patrick acquired a new stake in shares of John Hancock Preferred Income Fund III in the fourth quarter valued at about $360,000.
John Hancock Preferred Income Fund III Price Performance
HPS stock opened at $14.91 on Friday. The company’s 50-day moving average price is $15.14 and its 200 day moving average price is $15.58. John Hancock Preferred Income Fund III has a 52 week low of $14.09 and a 52 week high of $17.25.
John Hancock Preferred Income Fund III Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 11th will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.86%. The ex-dividend date is Friday, April 11th.
John Hancock Preferred Income Fund III 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.
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