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

Key Points

• Short interest surged sharply in John Hancock Premium Dividend Fund, rising 769.2% in July to 45,904 shares from 5,281 shares at the end of June. Despite the jump, short interest remains low at 0.1% of shares outstanding.
• The fund raised its monthly dividend to $0.0883 per share, up from $0.08 previously. That implies an annualized yield of about 8.2%.
• Shares were trading around $12.90, near both the 50-day moving average of $12.86 and below the 200-day average of $13.03. The stock has traded between $12.53 and $13.65 over the past year.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 45,904 shares, an increase of 769.2% from the June 30th total of 5,281 shares. Based on an average daily volume of 111,216 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company's stock are sold short.

John Hancock Premium Dividend Fund Trading Up 0.1%

Shares of John Hancock Premium Dividend Fund stock opened at $12.90 on Friday. The company has a 50-day simple moving average of $12.86 and a two-hundred day simple moving average of $13.03. John Hancock Premium Dividend Fund has a one year low of $12.53 and a one year high of $13.65.

John Hancock Premium Dividend Fund Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 13th will be issued a $0.0883 dividend. The ex-dividend date is Monday, July 13th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. This is an increase from John Hancock Premium Dividend Fund's previous monthly dividend of $0.08.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. SHP Wealth Management purchased a new stake in John Hancock Premium Dividend Fund during the fourth quarter valued at approximately $27,000. Advisory Services Network LLC purchased a new position in John Hancock Premium Dividend Fund in the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in John Hancock Premium Dividend Fund by 43.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,864 shares of the real estate investment trust's stock worth $38,000 after purchasing an additional 864 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of John Hancock Premium Dividend Fund by 36.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,328 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 889 shares in the last quarter. Finally, Ameriflex Group Inc. increased its position in shares of John Hancock Premium Dividend Fund by 324.6% during the fourth quarter. Ameriflex Group Inc. now owns 4,246 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 3,246 shares in the last quarter. Institutional investors own 12.98% of the company's stock.

John Hancock Premium Dividend Fund Company Profile

The John Hancock Premium Dividend Fund NYSE: PDT is a publicly traded, closed-end management investment company designed to deliver high current income and potential capital growth. The fund’s core strategy centers on dividend-paying and income-producing securities, combining equity and fixed-income instruments to achieve a balanced risk-return profile.

Managed by John Hancock Investment Management (US) LLC, a subsidiary of Manulife Financial Corporation, the fund primarily allocates assets to dividend-paying common stocks and preferred stocks of U.S.

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