John Hancock Investors Trust (NYSE:JHI) Stock Short Interest Rises 239.7%

Key Points

• Short interest surged 239.7% to 11,332 shares as of September 30, although only about 0.1% of JHI’s outstanding shares were sold short and the short-interest ratio remained low at 0.5 days.
• JHI shares traded at $12.09, near the lower end of their 52-week range of $11.93 to $14.26 and below their 50-day and 200-day moving averages.
• The trust reduced its quarterly dividend from $0.2970 to $0.2940 per share, equating to annualized dividends of $1.18 and a 9.7% yield; institutional investors own 27.01% of the stock.

John Hancock Investors Trust (NYSE:JHI - Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 11,332 shares, a growth of 239.7% from the September 15th total of 3,336 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 23,901 shares, the short-interest ratio is currently 0.5 days.

John Hancock Investors Trust Stock Performance

Shares of John Hancock Investors Trust stock traded up $0.07 during midday trading on Friday, hitting $12.09. The company's stock had a trading volume of 40,230 shares, compared to its average volume of 24,966. The stock has a 50-day simple moving average of $12.86 and a 200-day simple moving average of $13.10. John Hancock Investors Trust has a 1-year low of $11.93 and a 1-year high of $14.26.

John Hancock Investors Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a dividend of $0.2940 per share. The ex-dividend date of this dividend was Friday, September 11th. This is a negative change from John Hancock Investors Trust's previous quarterly dividend of $0.2970. This represents a $1.18 annualized dividend and a yield of 9.7%.

Institutional Investors Weigh In On John Hancock Investors Trust

Several hedge funds have recently bought and sold shares of JHI. IFP Advisors Inc acquired a new stake in John Hancock Investors Trust during the 2nd quarter worth about $32,000. World Investment Advisors acquired a new position in shares of John Hancock Investors Trust in the 1st quarter valued at about $299,000. Bank of America Corp DE increased its holdings in shares of John Hancock Investors Trust by 2.6% in the 1st quarter. Bank of America Corp DE now owns 33,545 shares of the financial services provider's stock valued at $433,000 after purchasing an additional 863 shares during the period. Riverbridge Partners LLC increased its holdings in shares of John Hancock Investors Trust by 4.0% in the 1st quarter. Riverbridge Partners LLC now owns 47,763 shares of the financial services provider's stock valued at $617,000 after purchasing an additional 1,855 shares during the period. Finally, Sit Investment Associates Inc. lifted its position in shares of John Hancock Investors Trust by 12.1% in the fourth quarter. Sit Investment Associates Inc. now owns 597,048 shares of the financial services provider's stock worth $8,162,000 after purchasing an additional 64,495 shares in the last quarter. 27.01% of the stock is owned by hedge funds and other institutional investors.

About John Hancock Investors Trust

John Hancock Investors Trust NYSE: JHI is a publicly traded closed-end investment company. The fund seeks long-term growth of capital by investing primarily in a diversified portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by John Hancock Investment Management, an asset-management organization affiliated with Manulife Investment Management. Its portfolio is professionally selected and managed, with investment decisions based on research and analysis of individual companies and broader market conditions.

As a closed-end fund, John Hancock Investors Trust issues a fixed number of shares that trade on the New York Stock Exchange.

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