John Hancock Income Securities Trust (NYSE:JHS) Stock Short Interest Jumps 235.8%

Key Points

• Short interest surged 235.8% to 11,539 shares as of September 15, up from 3,436 shares at the end of August. Despite the increase, only about 0.1% of JHS shares are sold short, representing 0.7 days of average trading volume.
• Several institutional investors increased their positions, including Susquehanna International Group, Petra Financial Advisors, Fiera Capital and Riverbridge Partners; Fifth Third Bancorp also initiated a new position.
• JHS shares recently traded at $10.40, near the stock’s one-year low of $10.36. The trust raised its quarterly dividend to $0.1546, implying an annualized payout of about $0.62 and a 5.9% yield.

John Hancock Income Securities Trust (NYSE:JHS - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 11,539 shares, an increase of 235.8% from the August 31st total of 3,436 shares. Based on an average daily trading volume, of 15,612 shares, the short-interest ratio is currently 0.7 days. Approximately 0.1% of the company's stock are sold short.

Institutional Investors Weigh In On John Hancock Income Securities Trust

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp purchased a new position in shares of John Hancock Income Securities Trust in the first quarter worth about $27,000. Susquehanna International Group LLP boosted its holdings in John Hancock Income Securities Trust by 79.5% in the 2nd quarter. Susquehanna International Group LLP now owns 18,052 shares of the financial services provider's stock worth $199,000 after buying an additional 7,996 shares during the period. Petra Financial Advisors Inc. grew its stake in John Hancock Income Securities Trust by 34.2% in the 1st quarter. Petra Financial Advisors Inc. now owns 25,657 shares of the financial services provider's stock valued at $281,000 after buying an additional 6,532 shares in the last quarter. Fiera Capital Corp raised its holdings in John Hancock Income Securities Trust by 35.7% during the 4th quarter. Fiera Capital Corp now owns 105,878 shares of the financial services provider's stock valued at $1,240,000 after acquiring an additional 27,841 shares during the period. Finally, Riverbridge Partners LLC lifted its position in shares of John Hancock Income Securities Trust by 4.0% during the first quarter. Riverbridge Partners LLC now owns 200,843 shares of the financial services provider's stock worth $2,197,000 after acquiring an additional 7,788 shares in the last quarter.

John Hancock Income Securities Trust Stock Performance

Shares of John Hancock Income Securities Trust stock traded down $0.01 on Friday, hitting $10.40. The company had a trading volume of 12,283 shares, compared to its average volume of 11,106. The stock has a 50 day moving average of $10.81 and a 200-day moving average of $10.97. John Hancock Income Securities Trust has a 1 year low of $10.36 and a 1 year high of $12.09.

John Hancock Income Securities Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.1546 dividend. The ex-dividend date is Friday, September 11th. This is a positive change from John Hancock Income Securities Trust's previous quarterly dividend of $0.1535. This represents a $0.62 dividend on an annualized basis and a yield of 5.9%.

John Hancock Income Securities Trust Company Profile

John Hancock Income Securities Trust NYSE: JHS is a diversified, closed-end investment company. The trust seeks to provide investors with a high level of current income by investing in a portfolio of income-producing securities.

Its investments primarily include debt securities issued by corporations and other entities, with the portfolio managed to balance income generation and credit risk. The trust may also invest in other fixed-income and preferred securities as permitted by its investment policies.

John Hancock Income Securities Trust is advised by John Hancock Investment Management, an investment-management business associated with Manulife Investment Management.

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