The John Hancock Premium Dividend Fund (NYSE:PDT) was the target of a significant drop in short interest during the month of December. As of December 31, there was short interest totaling 128,700 shares, a decrease of 59.5% from the total of 317,800 shares as of December 15. Based on an average daily trading volume of 76,900 shares, the short interest ratio is currently 1.7 days.
Shares of the John Hancock Premium Dividend Fund traded down $0.01 in Friday trading, hitting $16.67. 61,250 shares of the company were traded, against an average volume of 101,057. The company has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $16.97. The John Hancock Premium Dividend Fund has a 52-week low of $13.50 and a 52-week high of $17.69.
The company also recently announced a monthly dividend, which will be paid on Monday, January 31. Shareholders of record on Thursday, January 13 will receive a dividend of $0.0975. The ex-dividend date is Wednesday, January 12. This represents a dividend of $1.17 on an annualized basis and a yield of 7.02%.
Several institutional investors have recently increased or reduced their stake in the company. Bridge Advisory LLC increased its holdings of John Hancock Premium Dividend Fund shares by 88.3% in Q3. Bridge Advisory LLC now owns 115,973 shares of the real estate investment trust worth $1,927,000 after purchasing an additional 54,388 shares last quarter. Advisor Group Holdings Inc. increased its holdings of John Hancock Premium Dividend Fund shares by 19.6% in Q3. Advisor Group Holdings Inc. now owns 211,334 shares of the real estate investment trust worth $3,513,000 after purchasing an additional 34,568 shares last quarter. MML Investors Services LLC increased its holdings of John Hancock Premium Dividend Fund shares by 136.1% in Q3. MML Investors Services LLC now owns 47,387 shares of the real estate investment trust worth $788,000 after purchasing an additional 27,318 shares in the last quarter. Moors & Cabot Inc. bought a new equity position in the John Hancock Premium Dividend Fund in Q3, valued at around $28,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in the John Hancock Premium Dividend Fund during Q3, valued at approximately $238,000. 5.25% of the shares are currently held by institutional investors and hedge funds.
About the John Hancock Premium Dividend Fund
John Hancock Premium Dividend Fund is a closed-end 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 US stock markets. It seeks to invest in shares of companies operating in diversified sectors, with an emphasis on the utilities sector.
Recommended Story: Pricing
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in the John Hancock Premium Dividend Fund right now?
Before you consider the John Hancock Preferred Dividend Fund, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and the John Hancock Premium Dividend Fund didn’t make the list.
While the John Hancock Premium Dividend Fund currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here