John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Decrease in Short Interest

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John Hancock Premium Dividend Fund (NYSE:PDTGet Rating) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 26,100 shares, a decrease of 33.6% from the May 15th total of 39,300 shares. Based on an average daily trading volume, of 62,500 shares, the days-to-cover ratio is presently 0.4 days.

Several institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in John Hancock Premium Dividend Fund by 5.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 44,087 shares of the real estate investment trust’s stock valued at $737,000 after acquiring an additional 2,235 shares during the last quarter. West Bancorporation Inc. bought a new stake in John Hancock Premium Dividend Fund in the fourth quarter valued at approximately $33,000. Northwestern Mutual Wealth Management Co. boosted its holdings in John Hancock Premium Dividend Fund by 320.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 16,677 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 12,706 shares during the last quarter. CWM LLC bought a new stake in John Hancock Premium Dividend Fund in the fourth quarter valued at approximately $49,000. Finally, Janney Montgomery Scott LLC boosted its holdings in John Hancock Premium Dividend Fund by 21.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 31,245 shares of the real estate investment trust’s stock valued at $522,000 after acquiring an additional 5,586 shares during the last quarter. 5.60% of the stock is owned by institutional investors.

Shares of John Hancock Premium Dividend Fund stock traded down $0.22 on Tuesday, hitting $13.63. The stock had a trading volume of 1,345 shares, compared to its average volume of 53,572. The stock has a 50 day moving average of $15.43 and a 200 day moving average of $16.01. John Hancock Premium Dividend Fund has a twelve month low of $13.81 and a twelve month high of $17.69.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Monday, June 13th will be paid a $0.0975 dividend. This represents a $1.17 annualized dividend and a dividend yield of 8.58%. The ex-dividend date of this dividend is Friday, June 10th.

John Hancock Premium Dividend Fund Company Profile (Get Rating)

John Hancock Premium Dividend Fund is a closed ended 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 the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.

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