John Hancock Premium Dividend Fund (NYSE:PDT) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• John Hancock Premium Dividend Fund (NYSE:PDT) shares have surpassed their two hundred day moving average, recently trading at $13.29, up by 0.3%.
• The fund announced a monthly dividend of $0.0825 per share, which represents an annualized yield of 7.4% for stockholders of record.
• Several large investors have increased their positions in the fund, with Walleye Capital and Landscape Capital Management lifting their stakes by 17.7% and 43.3% respectively.

John Hancock Premium Dividend Fund (NYSE:PDT - ) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.01 and traded as high as $13.32. John Hancock Premium Dividend Fund shares last traded at $13.29, with a volume of 163,044 shares.

John Hancock Premium Dividend Fund Stock Up 0.3%

The company has a fifty day moving average of $13.36 and a 200 day moving average of $13.01.

John Hancock Premium Dividend Fund Dividend Announcement

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

Hedge Funds Weigh In On John Hancock Premium Dividend Fund

Large investors have recently made changes to their positions in the business. Walleye Capital LLC lifted its position in shares of John Hancock Premium Dividend Fund by 17.7% in the first quarter. Walleye Capital LLC now owns 49,412 shares of the real estate investment trust's stock valued at $646,000 after acquiring an additional 7,425 shares in the last quarter. Landscape Capital Management L.L.C. lifted its position in shares of John Hancock Premium Dividend Fund by 43.3% in the first quarter. Landscape Capital Management L.L.C. now owns 16,406 shares of the real estate investment trust's stock valued at $215,000 after acquiring an additional 4,958 shares in the last quarter. Invesco Ltd. lifted its position in shares of John Hancock Premium Dividend Fund by 6.7% in the first quarter. Invesco Ltd. now owns 671,026 shares of the real estate investment trust's stock worth $8,777,000 after buying an additional 42,234 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of 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 worth $662,000 after buying an additional 1,713 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of John Hancock Premium Dividend Fund in the first quarter worth about $708,000. 12.98% of the stock is currently owned by hedge funds and other institutional investors.

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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