John Hancock Premium Dividend Fund (NYSE:PDT) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• John Hancock Premium Dividend Fund shares have recently crossed above their 200-day moving average, trading as high as $13.45 and closing at $13.40 on high volume.
• The fund announced a monthly dividend of $0.0825 per share, representing an annual yield of 7.4%, which was paid to shareholders on August 29.
• Institutional investors have actively traded the fund, with several hedge funds acquiring new stakes, increasing overall institutional ownership to 12.98%.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.93 and traded as high as $13.45. John Hancock Premium Dividend Fund shares last traded at $13.40, with a volume of 90,720 shares trading hands.

John Hancock Premium Dividend Fund Price Performance

The business's 50-day simple moving average is $13.32 and its two-hundred day simple moving average is $12.94.

John Hancock Premium Dividend Fund Announces Dividend

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

Institutional Trading of John Hancock Premium Dividend Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its position in John Hancock Premium Dividend Fund by 11.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,903 shares of the real estate investment trust's stock valued at $177,000 after buying an additional 1,400 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in John Hancock Premium Dividend Fund by 8.9% in the first quarter. Janney Montgomery Scott LLC now owns 19,749 shares of the real estate investment trust's stock valued at $258,000 after buying an additional 1,614 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of John Hancock Premium Dividend Fund by 3.5% during the first quarter. Cetera Investment Advisers now owns 50,578 shares of the real estate investment trust's stock worth $662,000 after purchasing an additional 1,713 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of John Hancock Premium Dividend Fund by 9.3% during the second quarter. Raymond James Financial Inc. now owns 28,567 shares of the real estate investment trust's stock worth $376,000 after purchasing an additional 2,425 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of John Hancock Premium Dividend Fund by 7.3% during the fourth quarter. Bank of America Corp DE now owns 42,512 shares of the real estate investment trust's stock worth $542,000 after purchasing an additional 2,903 shares during the period. Institutional investors and hedge funds own 12.98% of the company's stock.

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.