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

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 74,000 shares, a growth of 141.8% from the May 15th total of 30,600 shares. Based on an average daily volume of 124,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company's stock are short sold.

Institutional Trading of John Hancock Premium Dividend Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Landscape Capital Management L.L.C. grew its position in shares of John Hancock Premium Dividend Fund by 43.3% in the first quarter. Landscape Capital Management L.L.C. now owns 16,406 shares of the real estate investment trust's stock valued at $215,000 after purchasing an additional 4,958 shares during the last quarter. Walleye Capital LLC raised its position in John Hancock Premium Dividend Fund by 17.7% in the 1st quarter. Walleye Capital LLC now owns 49,412 shares of the real estate investment trust's stock worth $646,000 after purchasing an additional 7,425 shares during the last quarter. Invesco Ltd. raised its position in shares of John Hancock Premium Dividend Fund by 6.7% during the 1st quarter. Invesco Ltd. now owns 671,026 shares of the real estate investment trust's stock valued at $8,777,000 after acquiring an additional 42,234 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of John Hancock Premium Dividend Fund during the 1st quarter valued at $708,000. Finally, Cornerstone Advisors LLC acquired a new position in shares of John Hancock Premium Dividend Fund in the 1st quarter valued at $2,660,000. Institutional investors and hedge funds own 12.98% of the company's stock.

John Hancock Premium Dividend Fund Stock Down 0.9%

Shares of John Hancock Premium Dividend Fund stock traded down $0.12 on Friday, reaching $13.03. 111,893 shares of the company were exchanged, compared to its average volume of 116,218. John Hancock Premium Dividend Fund has a 1-year low of $11.18 and a 1-year high of $13.55. The company's 50-day moving average is $12.67 and its two-hundred day moving average is $12.72.

John Hancock Premium Dividend Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.0825 per share. This represents a $0.99 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend is Thursday, June 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.