John Hancock Income Securities Trust (NYSE:JHS) Stock Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• John Hancock Income Securities Trust (NYSE:JHS) fell below its 50-day moving average on Friday, trading as low as $10.84 versus the $11.00 average.
• The trust also recently raised its quarterly dividend to $0.1535 per share from $0.14, putting the annualized payout at $0.61 and the yield at about 5.7%.
• Several institutional investors increased or initiated positions in JHS during recent quarters, including Hennion & Walsh, Petra Financial Advisors, Riverbridge Partners, and Guggenheim Capital.

John Hancock Income Securities Trust (NYSE:JHS - Get Free Report) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.00 and traded as low as $10.84. John Hancock Income Securities Trust shares last traded at $10.84, with a volume of 12,627 shares.

John Hancock Income Securities Trust Trading Down 0.1%

The business has a 50-day moving average of $11.00 and a 200-day moving average of $11.25.

John Hancock Income Securities Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th were given a $0.1535 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This is a positive change from John Hancock Income Securities Trust's previous quarterly dividend of $0.14. This represents a $0.61 dividend on an annualized basis and a yield of 5.7%.

Institutional Trading of John Hancock Income Securities Trust

Several hedge funds have recently made changes to their positions in JHS. Hennion & Walsh Asset Management Inc. grew its position in shares of John Hancock Income Securities Trust by 3.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 211,766 shares of the financial services provider's stock worth $2,335,000 after buying an additional 7,715 shares in the last quarter. Petra Financial Advisors Inc. lifted its position in shares of John Hancock Income Securities Trust by 34.2% during the 1st quarter. Petra Financial Advisors Inc. now owns 25,657 shares of the financial services provider's stock worth $281,000 after purchasing an additional 6,532 shares during the last quarter. Fifth Third Bancorp acquired a new stake in John Hancock Income Securities Trust in the first quarter valued at $27,000. Riverbridge Partners LLC lifted its holdings in John Hancock Income Securities Trust by 4.0% during the 1st quarter. Riverbridge Partners LLC now owns 200,843 shares of the financial services provider's stock worth $2,197,000 after buying an additional 7,788 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in John Hancock Income Securities Trust by 60.1% during the 4th quarter. Guggenheim Capital LLC now owns 131,547 shares of the financial services provider's stock worth $1,540,000 after buying an additional 49,377 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.