John Hancock Premium Dividend Fund (NYSE:PDT) Sees Significant Drop in Short Interest

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 - ) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 15,400 shares, a decline of 64.7% from the August 15th total of 43,600 shares. Approximately 0.0% of the shares of the stock are sold short. 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 shares of the stock are sold short.

Institutional Investors Weigh In On John Hancock Premium Dividend Fund

Several institutional investors have recently modified their holdings of PDT. Bank of America Corp DE increased its stake in John Hancock Premium Dividend Fund by 7.3% in the 4th quarter. Bank of America Corp DE now owns 42,512 shares of the real estate investment trust's stock valued at $542,000 after purchasing an additional 2,903 shares in the last quarter. Second Line Capital LLC increased its position in shares of John Hancock Premium Dividend Fund by 6.5% in the fourth quarter. Second Line Capital LLC now owns 49,618 shares of the real estate investment trust's stock valued at $632,000 after buying an additional 3,026 shares in the last quarter. Ameriflex Group Inc. acquired a new position in shares of John Hancock Premium Dividend Fund during the 4th quarter worth $77,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of John Hancock Premium Dividend Fund by 11.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,903 shares of the real estate investment trust's stock worth $177,000 after buying an additional 1,400 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of John Hancock Premium Dividend Fund by 8.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,749 shares of the real estate investment trust's stock worth $258,000 after buying an additional 1,614 shares in the last quarter. Hedge funds and other institutional investors own 12.98% of the company's stock.

John Hancock Premium Dividend Fund Trading Up 0.3%

Shares of NYSE PDT opened at $13.46 on Friday. John Hancock Premium Dividend Fund has a 52 week low of $11.41 and a 52 week high of $13.55. The firm has a 50-day moving average price of $13.33 and a 200 day moving average price of $12.95.

John Hancock Premium Dividend Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given 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.

About John Hancock Premium Dividend Fund

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.

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