Short Interest in John Hancock Premium Dividend Fund (NYSE:PDT) Grows By 142.3%

by · The Markets Daily

John Hancock Premium Dividend Fund (NYSE:PDT – Get Free Report) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 23,651 shares, a growth of 142.3% from the April 30th total of 9,762 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 118,207 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of John Hancock Premium Dividend Fund

Several institutional investors and hedge funds have recently bought and sold shares of PDT. Northwestern Mutual Wealth Management Co. raised its position in John Hancock Premium Dividend Fund by 96,097.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,755,098 shares of the real estate investment trust’s stock valued at $34,990,000 after purchasing an additional 2,752,234 shares during the last quarter. Wolverine Asset Management LLC raised its position in John Hancock Premium Dividend Fund by 2,093.1% in the 4th quarter. Wolverine Asset Management LLC now owns 260,103 shares of the real estate investment trust’s stock valued at $3,303,000 after purchasing an additional 248,243 shares during the last quarter. 1607 Capital Partners LLC purchased a new stake in John Hancock Premium Dividend Fund in the 4th quarter valued at $2,708,000. ORG Partners LLC purchased a new stake in John Hancock Premium Dividend Fund in the 4th quarter valued at $1,524,000. Finally, Absolute Investment Advisers LLC purchased a new stake in John Hancock Premium Dividend Fund in the 1st quarter valued at $1,145,000. Hedge funds and other institutional investors own 12.98% of the company’s stock.

John Hancock Premium Dividend Fund Stock Down 1.2%

Shares of NYSE:PDT traded down $0.16 during trading on Monday, hitting $12.73. 139,477 shares of the company were exchanged, compared to its average volume of 121,409. John Hancock Premium Dividend Fund has a 12-month low of $12.53 and a 12-month high of $13.65. The firm’s 50 day moving average price is $13.04 and its 200-day moving average price is $13.01.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 11th were given a $0.0825 dividend. The ex-dividend date was Monday, May 11th. This represents a c) annualized dividend and a yield of 7.8%.

John Hancock Premium Dividend Fund Company Profile

(Get Free Report)

The John Hancock Premium Dividend Fund (NYSE:PDT) is a publicly traded, closed-end management investment company designed to deliver high current income and potential capital growth. The fund’s core strategy centers on dividend-paying and income-producing securities, combining equity and fixed-income instruments to achieve a balanced risk-return profile.

Managed by John Hancock Investment Management (US) LLC, a subsidiary of Manulife Financial Corporation, the fund primarily allocates assets to dividend-paying common stocks and preferred stocks of U.S.

Recommended Stories