John Hancock Premium Dividend Fund (NYSE:PDT) Shares Shorted: Short Interest Up 55.6% in September

Key Points

• Short interest rose 55.6% in September to 69,679 shares, representing 0.1% of PDT’s shares outstanding and a low days-to-cover ratio of 0.5.
• PDT shares recently traded at $11.91, near the lower end of their 12-month range of $11.56 to $13.65.
• The fund declared a monthly dividend of $0.0883 per share, equivalent to $1.06 annually and an approximate 8.9% yield; institutional investors own 12.98% of the fund.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 69,679 shares, an increase of 55.6% from the September 15th total of 44,779 shares. Currently, 0.1% of the company's shares are sold short. Based on an average trading volume of 147,986 shares, the days-to-cover ratio is presently 0.5 days.

John Hancock Premium Dividend Fund Price Performance

NYSE:PDT traded up $0.09 on Friday, reaching $11.91. The company's stock had a trading volume of 70,580 shares, compared to its average volume of 129,590. John Hancock Premium Dividend Fund has a 12-month low of $11.56 and a 12-month high of $13.65. The stock has a 50 day moving average price of $12.25 and a 200 day moving average price of $12.71.

John Hancock Premium Dividend Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, October 13th will be issued a dividend of $0.0883 per share. The ex-dividend date is Tuesday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.9%.

Institutional Trading of John Hancock Premium Dividend Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Arlington Capital Management Inc. boosted its holdings in John Hancock Premium Dividend Fund by 7.2% in the second quarter. Arlington Capital Management Inc. now owns 21,440 shares of the real estate investment trust's stock valued at $278,000 after purchasing an additional 1,441 shares in the last quarter. SHP Wealth Management purchased a new position in John Hancock Premium Dividend Fund in the fourth quarter valued at approximately $27,000. Pathway Financial Advisers LLC increased its stake in John Hancock Premium Dividend Fund by 1.2% in the first quarter. Pathway Financial Advisers LLC now owns 231,745 shares of the real estate investment trust's stock valued at $3,036,000 after purchasing an additional 2,702 shares during the last quarter. AdvisorNet Financial Inc increased its stake in John Hancock Premium Dividend Fund by 36.7% in the third quarter. AdvisorNet Financial Inc now owns 14,898 shares of the real estate investment trust's stock valued at $175,000 after purchasing an additional 4,000 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in John Hancock Premium Dividend Fund by 103.3% during the first quarter. PNC Financial Services Group Inc. now owns 10,638 shares of the real estate investment trust's stock worth $139,000 after purchasing an additional 5,405 shares in the last quarter. 12.98% of the stock is owned by institutional investors and hedge funds.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund is a publicly traded, diversified closed-end investment fund listed on the New York Stock Exchange under the symbol PDT. The fund seeks to provide a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in preferred securities and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities and financial services sectors, although its holdings may change over time based on market conditions and the investment team's assessment of income potential, credit quality and valuation.

John Hancock Premium Dividend Fund is managed by John Hancock Investment Management, the asset-management business associated with Manulife Investment Management.

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