John Hancock Premium Dividend Fund (NYSE:PDT) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Shares of John Hancock Premium Dividend Fund (NYSE:PDT) have crossed above their 200-day moving average of $12.88, reaching a high of $13.45 during trading.
• The fund declared a monthly dividend of $0.0825 per share, representing an annualized yield of 7.4%, to be paid on August 29th.
• Institutional ownership of the fund is around 12.98%, with several major investors increasing their stakes recently, including Invesco Ltd. and Wells Fargo & Company.

Shares of John Hancock Premium Dividend Fund (NYSE:PDT - ) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.88 and traded as high as $13.45. John Hancock Premium Dividend Fund shares last traded at $13.37, with a volume of 80,953 shares changing hands.

John Hancock Premium Dividend Fund Trading Down 0.3%

The company's 50-day moving average price is $13.21 and its 200 day moving average price is $12.88.

John Hancock Premium Dividend Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 11th will be given a dividend of $0.0825 per share. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Monday, August 11th.

Institutional Trading of John Hancock Premium Dividend Fund

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of John Hancock Premium Dividend Fund by 2.4% in the second quarter. Invesco Ltd. now owns 687,451 shares of the real estate investment trust's stock worth $9,054,000 after acquiring an additional 16,425 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of John Hancock Premium Dividend Fund by 9.0% during the fourth quarter. Guggenheim Capital LLC now owns 632,437 shares of the real estate investment trust's stock worth $8,057,000 after purchasing an additional 52,065 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of John Hancock Premium Dividend Fund by 3.4% during the first quarter. Axxcess Wealth Management LLC now owns 488,573 shares of the real estate investment trust's stock worth $6,391,000 after purchasing an additional 16,005 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of John Hancock Premium Dividend Fund by 484.0% in the 4th quarter. Wells Fargo & Company MN now owns 271,560 shares of the real estate investment trust's stock valued at $3,460,000 after purchasing an additional 225,060 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its holdings in shares of John Hancock Premium Dividend Fund by 14.0% in the 2nd quarter. Cornerstone Advisors LLC now owns 231,762 shares of the real estate investment trust's stock valued at $3,052,000 after purchasing an additional 28,424 shares during the last quarter. 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.

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