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

Key Points

• Short interest for John Hancock Income Securities Trust rose 22.8% in August, reaching a total of 7,000 shares compared to 5,700 shares during the previous period.
• The company recently cut its dividend to $0.1421 per share, translating to an annualized dividend of $0.57 and a yield of 4.8% for investors.
• Large institutional investors have shown significant activity, with firms like Wolverine Asset Management expanding their stakes by over 5,000% in the past quarter.

John Hancock Income Securities Trust (NYSE:JHS - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 7,000 shares, a growth of 22.8% from the August 15th total of 5,700 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily trading volume, of 12,500 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 12,500 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the company's stock are sold short.

John Hancock Income Securities Trust Trading Up 0.4%

Shares of NYSE:JHS traded up $0.05 during midday trading on Monday, hitting $11.71. The company's stock had a trading volume of 2,156 shares, compared to its average volume of 13,790. The stock's 50 day simple moving average is $11.49 and its 200 day simple moving average is $11.29. John Hancock Income Securities Trust has a fifty-two week low of $10.62 and a fifty-two week high of $11.95.

John Hancock Income Securities Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a $0.1421 dividend. This represents a $0.57 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, September 12th.

Institutional Investors Weigh In On John Hancock Income Securities Trust

Several hedge funds and other institutional investors have recently made changes to their positions in JHS. Noble Wealth Management PBC acquired a new stake in shares of John Hancock Income Securities Trust in the first quarter valued at about $52,000. Wolverine Asset Management LLC grew its position in shares of John Hancock Income Securities Trust by 5,395.0% in the second quarter. Wolverine Asset Management LLC now owns 5,495 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 5,395 shares during the last quarter. Brick & Kyle Associates acquired a new stake in shares of John Hancock Income Securities Trust in the second quarter valued at about $238,000. Cary Street Partners Financial LLC acquired a new stake in shares of John Hancock Income Securities Trust in the second quarter valued at about $377,000. Finally, Baird Financial Group Inc. lifted its stake in shares of John Hancock Income Securities Trust by 23.9% in the second quarter. Baird Financial Group Inc. now owns 60,103 shares of the financial services provider's stock valued at $678,000 after buying an additional 11,587 shares during the period.

About John Hancock Income Securities Trust

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.