John Hancock Premium Dividend Fund (NYSE:PDT) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• The share price of John Hancock Premium Dividend Fund (NYSE:PDT) recently crossed above its 200-day moving average, reaching a high of $13.32 during trading.
• The company announced a monthly dividend of $0.0825 per share, with a dividend yield of 7.5%, payable on October 31st to investors of record by October 14th.
• Recent institutional activities include Wealth Enhancement Advisory Services increasing its stake by 11.2%, reflecting growing investor interest in the fund.

John Hancock Premium Dividend Fund (NYSE:PDT - )'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.03 and traded as high as $13.32. John Hancock Premium Dividend Fund shares last traded at $13.21, with a volume of 125,149 shares changing hands.

John Hancock Premium Dividend Fund Stock Performance

The stock has a 50-day simple moving average of $13.35 and a two-hundred day simple moving average of $13.03.

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. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, October 14th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its stake in shares of John Hancock Premium Dividend Fund by 11.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,903 shares of the real estate investment trust's stock worth $177,000 after acquiring an additional 1,400 shares in the last quarter. Janney Montgomery Scott LLC raised its position in John Hancock Premium Dividend Fund by 8.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,749 shares of the real estate investment trust's stock worth $258,000 after purchasing an additional 1,614 shares during the period. Cetera Investment Advisers raised its position in John Hancock Premium Dividend Fund by 3.5% in the 1st 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. raised its position in John Hancock Premium Dividend Fund by 9.3% in the 2nd 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, First Horizon Advisors Inc. purchased a new position in shares of John Hancock Premium Dividend Fund in the first quarter worth about $42,000. 12.98% of the stock is owned by hedge funds and other institutional investors.

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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