John Hancock Premium Dividend Fund (NYSE:PDT) Short Interest Update

Key Points

• Short interest in the John Hancock Premium Dividend Fund (NYSE:PDT) increased by 143.5% in September, rising from 15,400 to 37,500 shares.
• Institutional investors own 12.98% of the fund's stock, with notable increases in holdings by several firms, including a 11.2% growth from Wealth Enhancement Advisory Services LLC.
• The fund will issue a monthly dividend of $0.0825 per share, payable on October 31st, representing a 7.4% yield annually.

John Hancock Premium Dividend Fund (NYSE:PDT - ) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 37,500 shares, a growth of 143.5% from the August 31st total of 15,400 shares. Based on an average daily trading volume, of 113,400 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 113,400 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew 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 purchasing an additional 1,400 shares in the last quarter. Janney Montgomery Scott LLC grew 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 purchasing an additional 1,614 shares in the last quarter. Cetera Investment Advisers grew its position 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 valued at $662,000 after purchasing an additional 1,713 shares in the last quarter. Raymond James Financial Inc. grew its position in John Hancock Premium Dividend Fund by 9.3% in the second quarter. Raymond James Financial Inc. now owns 28,567 shares of the real estate investment trust's stock valued at $376,000 after purchasing an additional 2,425 shares in the last quarter. Finally, Bank of America Corp DE grew its position in John Hancock Premium Dividend Fund by 7.3% in the fourth 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. Institutional investors and hedge funds own 12.98% of the company's stock.

John Hancock Premium Dividend Fund Trading Up 0.0%

PDT stock traded up $0.01 during trading on Friday, hitting $13.36. 127,302 shares of the stock traded hands, compared to its average volume of 113,166. John Hancock Premium Dividend Fund has a one year low of $11.41 and a one year high of $13.55. The company has a 50 day simple moving average of $13.36 and a 200 day simple moving average of $13.02.

John Hancock Premium Dividend Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 14th will be issued a dividend of $0.0825 per share. The ex-dividend date is Tuesday, October 14th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

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.

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