John Hancock Premium Dividend Fund (NYSE:PDT) Short Interest Down 35.8% in August

Key Points

• Short interest in John Hancock Premium Dividend Fund fell 35.8% in August to 28,746 shares, representing just 0.1% of shares outstanding and a short-interest ratio of 0.2 days.
• PDT shares were flat at $12.61, near the lower end of their 12-month range of $12.49 to $13.65. The fund recently paid a monthly dividend of $0.0883, equating to an annualized yield of approximately 8.4%.
• Several institutional investors increased or initiated positions, while institutional ownership stood at 12.98% of the fund’s stock.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 28,746 shares, a decrease of 35.8% from the July 30th total of 44,785 shares. Currently, 0.1% of the company's stock are short sold. Based on an average trading volume of 131,523 shares, the short-interest ratio is currently 0.2 days.

John Hancock Premium Dividend Fund Price Performance

Shares of NYSE:PDT remained flat at $12.61 during trading on Tuesday. 117,891 shares of the stock were exchanged, compared to its average volume of 124,971. John Hancock Premium Dividend Fund has a 12 month low of $12.49 and a 12 month high of $13.65. The firm's 50 day moving average is $12.82 and its two-hundred day moving average is $13.00.

John Hancock Premium Dividend Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Thursday, August 13th were given a $0.0883 dividend. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend was Thursday, August 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SHP Wealth Management bought a new position in John Hancock Premium Dividend Fund during the fourth quarter valued at about $27,000. Advisory Services Network LLC bought a new position in shares of John Hancock Premium Dividend Fund in the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. raised its position in John Hancock Premium Dividend Fund by 43.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,864 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 864 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of John Hancock Premium Dividend Fund by 36.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,328 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 889 shares during the last quarter. Finally, Ameriflex Group Inc. raised its stake in shares of John Hancock Premium Dividend Fund by 324.6% in the fourth quarter. Ameriflex Group Inc. now owns 4,246 shares of the real estate investment trust's stock worth $54,000 after acquiring an additional 3,246 shares during the last quarter. Institutional investors own 12.98% of the company's stock.

About John Hancock Premium Dividend Fund

The John Hancock Premium Dividend Fund NYSE: PDT is a publicly traded, closed-end management investment company designed to deliver high current income and potential capital growth. The fund’s core strategy centers on dividend-paying and income-producing securities, combining equity and fixed-income instruments to achieve a balanced risk-return profile.

Managed by John Hancock Investment Management (US) LLC, a subsidiary of Manulife Financial Corporation, the fund primarily allocates assets to dividend-paying common stocks and preferred stocks of U.S.

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