Parsons Capital Management Inc. RI purchased a new position in John Hancock Pref. Income Fund II (NYSE:HPF) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,650 shares of the company’s stock, valued at approximately $211,000.
Separately, Morgan Stanley increased its stake in John Hancock Pref. Income Fund II by 10.9% in the 3rd quarter. Morgan Stanley now owns 123,669 shares of the company’s stock worth $2,618,000 after buying an additional 12,172 shares in the last quarter.
HPF stock traded down $0.13 during trading on Wednesday, reaching $22.15. The company’s stock had a trading volume of 21,259 shares, compared to its average volume of 35,867. John Hancock Pref. Income Fund II has a 1 year low of $17.26 and a 1 year high of $22.37.
The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 13th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 7.58%.
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About John Hancock Pref. Income Fund II
John Hancock Preferred Income Fund II 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.
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