Sit Investment Associates Inc. Boosts Holdings in John Hancock Income Securities Trust (NYSE:JHS)

Key Points

• Sit Investment Associates Inc. has increased its stake in John Hancock Income Securities Trust by 4.4%, now holding approximately 2,958,494 shares valued at $33.5 million.
• John Hancock Income Securities Trust recently raised its quarterly dividend to $0.1435, which translates to an annualized dividend of $0.57 and a yield of 5.0%.
• The stock is currently trading at $11.46, with a 52-week range between $10.62 and $11.87.

Sit Investment Associates Inc. lifted its holdings in John Hancock Income Securities Trust (NYSE:JHS - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,958,494 shares of the financial services provider's stock after acquiring an additional 125,466 shares during the period. John Hancock Income Securities Trust accounts for approximately 0.8% of Sit Investment Associates Inc.'s holdings, making the stock its 26th biggest holding. Sit Investment Associates Inc. owned 23.55% of John Hancock Income Securities Trust worth $33,549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. LPL Financial LLC increased its position in shares of John Hancock Income Securities Trust by 5.6% during the fourth quarter. LPL Financial LLC now owns 35,139 shares of the financial services provider's stock worth $393,000 after acquiring an additional 1,867 shares during the period. Raymond James Financial Inc. purchased a new position in shares of John Hancock Income Securities Trust during the fourth quarter worth approximately $217,000. 1607 Capital Partners LLC increased its position in shares of John Hancock Income Securities Trust by 43.8% during the fourth quarter. 1607 Capital Partners LLC now owns 1,112,680 shares of the financial services provider's stock worth $12,456,000 after acquiring an additional 339,177 shares during the period. Stifel Financial Corp increased its position in shares of John Hancock Income Securities Trust by 18.8% during the fourth quarter. Stifel Financial Corp now owns 26,290 shares of the financial services provider's stock worth $294,000 after acquiring an additional 4,160 shares during the period. Finally, Noble Wealth Management PBC purchased a new position in shares of John Hancock Income Securities Trust during the first quarter worth approximately $52,000.

John Hancock Income Securities Trust Stock Performance

Shares of NYSE:JHS traded up $0.05 during trading on Friday, reaching $11.61. 12,212 shares of the company were exchanged, compared to its average volume of 9,551. John Hancock Income Securities Trust has a 12-month low of $10.62 and a 12-month high of $11.87. The business's fifty day simple moving average is $11.28 and its 200-day simple moving average is $11.23.

John Hancock Income Securities Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were given a $0.1435 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from John Hancock Income Securities Trust's previous quarterly dividend of $0.13.

John Hancock Income Securities Trust Company Profile

John Hancock Income Securities Trust 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 United States. It invests primarily in corporate and government bonds with average maturity of 7.57 years.