John Hancock Income Securities Trust (NYSE:JHS) Sees Large Growth in Short Interest

Key Points

• Short interest in JHS jumped 80% in June, rising to 5,539 shares as of June 30 from 3,078 shares on June 15. Even with the increase, the stock’s short-interest ratio remains low at 0.4 days to cover.
• The trust recently raised its quarterly dividend to $0.1535 per share from $0.14, translating to an annualized dividend of $0.61 and a yield of 5.6%.
• Institutional investors have been adding to their positions, with firms like Hennion & Walsh, Riverbridge Partners, and others increasing their holdings in recent quarters.

John Hancock Income Securities Trust (NYSE:JHS - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 5,539 shares, an increase of 80.0% from the June 15th total of 3,078 shares. Based on an average daily volume of 15,001 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company's stock are short sold.

John Hancock Income Securities Trust Stock Performance

Shares of JHS stock opened at $11.01 on Friday. John Hancock Income Securities Trust has a 52 week low of $10.74 and a 52 week high of $12.09. The company's 50 day moving average price is $11.03 and its two-hundred day moving average price is $11.28.

John Hancock Income Securities Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were given a dividend of $0.1535 per share. This is a positive change from John Hancock Income Securities Trust's previous quarterly dividend of $0.14. This represents a $0.61 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Investors Weigh In On John Hancock Income Securities Trust

Institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. boosted its stake in John Hancock Income Securities Trust by 3.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 211,766 shares of the financial services provider's stock worth $2,335,000 after purchasing an additional 7,715 shares during the period. Riverbridge Partners LLC raised its stake in shares of John Hancock Income Securities Trust by 4.0% in the 1st quarter. Riverbridge Partners LLC now owns 200,843 shares of the financial services provider's stock valued at $2,197,000 after purchasing an additional 7,788 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of John Hancock Income Securities Trust by 60.1% in the fourth quarter. Guggenheim Capital LLC now owns 131,547 shares of the financial services provider's stock valued at $1,540,000 after purchasing an additional 49,377 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of John Hancock Income Securities Trust by 35.7% in the fourth quarter. Fiera Capital Corp now owns 105,878 shares of the financial services provider's stock valued at $1,240,000 after purchasing an additional 27,841 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of John Hancock Income Securities Trust by 23.9% during the second quarter. Baird Financial Group Inc. now owns 60,103 shares of the financial services provider's stock worth $678,000 after buying an additional 11,587 shares during the period.

About John Hancock Income Securities Trust

John Hancock Income Securities Trust NYSE: JHS is a diversified, closed-end management investment company that seeks to provide shareholders with high current income while preserving capital. Trading on the New York Stock Exchange since its launch in the late 1970s, the trust offers investors access to a broad portfolio of fixed-income securities under a professional management structure.

The fund's primary investment activities include purchasing U.S. government and agency obligations, investment-grade corporate debt, mortgage- and asset-backed securities, preferred stocks, and selected foreign debt instruments.

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