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

Key Points

• John Hancock Premium Dividend Fund (NYSE:PDT) shares have surpassed their 200-day moving average, currently trading at $13.41 after reaching a high of $13.44.
• The fund declared a monthly dividend of $0.0825 per share, which yields approximately 7.4%, with the payment scheduled for September 30th.
• Significant activity from institutional investors includes Pathway Financial Advisers LLC increasing its holdings by 2.4%, indicating growing interest in the fund.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.94 and traded as high as $13.44. John Hancock Premium Dividend Fund shares last traded at $13.41, with a volume of 115,622 shares changing hands.

John Hancock Premium Dividend Fund Stock Down 0.3%

The business's 50 day moving average price is $13.33 and its 200-day moving average price is $12.96.

John Hancock Premium Dividend Fund Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its stake in John Hancock Premium Dividend Fund by 2.4% during the 2nd 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 during the last quarter. Axxcess Wealth Management LLC lifted its stake in John Hancock Premium Dividend Fund by 3.4% in the first quarter. Axxcess Wealth Management LLC now owns 488,573 shares of the real estate investment trust's stock valued at $6,391,000 after buying an additional 16,005 shares in the last quarter. Cornerstone Advisors LLC lifted its stake in John Hancock Premium Dividend Fund by 14.0% in the second quarter. Cornerstone Advisors LLC now owns 231,762 shares of the real estate investment trust's stock valued at $3,052,000 after buying an additional 28,424 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in John Hancock Premium Dividend Fund by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 226,179 shares of the real estate investment trust's stock valued at $2,979,000 after buying an additional 5,360 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its stake in John Hancock Premium Dividend Fund by 3.4% in the second quarter. Stratos Wealth Partners LTD. now owns 143,936 shares of the real estate investment trust's stock valued at $1,896,000 after buying an additional 4,796 shares in the last quarter. Institutional investors 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.