John Hancock Premium Dividend Fund (NYSE:PDT) Short Interest Down 64.7% in August

Key Points

• John Hancock Premium Dividend Fund (NYSE:PDT) experienced a significant decline in short interest, dropping by 64.7% from 43,600 to 15,400 shares in August.
• Institutional investors have increased their stakes in the fund, with Bank of America Corp DE raising its position by 7.3%, and several others also boosting their holdings in the fourth quarter.
• The fund declared a monthly dividend of $0.0825 per share, representing a 7.4% annualized dividend yield, payable on September 30th.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 15,400 shares, a decrease of 64.7% from the August 15th total of 43,600 shares. Approximately 0.0% of the company's shares are short sold. Based on an average daily volume of 114,000 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 114,000 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company's shares are short sold.

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Institutional investors have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in John Hancock Premium Dividend Fund by 6.7% in the first quarter. Invesco Ltd. now owns 671,026 shares of the real estate investment trust's stock worth $8,777,000 after buying an additional 42,234 shares in the last quarter. Cetera Investment Advisers raised its stake in John Hancock Premium Dividend Fund by 3.5% in the first quarter. Cetera Investment Advisers now owns 50,578 shares of the real estate investment trust's stock worth $662,000 after buying an additional 1,713 shares in the last quarter. Wolverine Asset Management LLC bought a new position in John Hancock Premium Dividend Fund in the first quarter worth about $708,000. Cornerstone Advisors LLC bought a new position in John Hancock Premium Dividend Fund in the first quarter worth about $2,660,000. Finally, Brookwood Investment Group LLC bought a new position in John Hancock Premium Dividend Fund in the first quarter worth about $392,000. 12.98% of the stock is owned by institutional investors.

John Hancock Premium Dividend Fund Stock Performance

Shares of John Hancock Premium Dividend Fund stock traded down $0.04 during trading on Wednesday, reaching $13.33. 91,255 shares of the stock were exchanged, compared to its average volume of 112,891. The stock's fifty day moving average is $13.33 and its 200 day moving average is $12.97. John Hancock Premium Dividend Fund has a 1 year low of $11.41 and a 1 year high of $13.55.

John Hancock Premium Dividend Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.0825 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Friday, September 12th.

John Hancock Premium Dividend Fund Company Profile

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.