John Hancock Investors Trust (NYSE:JHI) Stock Passes Below 50-Day Moving Average - Here's Why

Key Points

• JHI shares fell below their 50-day moving average, trading as low as $12.25 compared with the $13.11 average, and last changing hands at $12.3190.
• The fund announced a quarterly dividend of $0.294 per share, equivalent to $1.18 annually and a 9.5% yield; payment is scheduled for September 30 to shareholders of record on September 11.
• Institutional investors own 27.01% of JHI, with several firms recently increasing their positions or initiating new stakes.

Shares of John Hancock Investors Trust (NYSE:JHI - Get Free Report) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $13.11 and traded as low as $12.25. John Hancock Investors Trust shares last traded at $12.3190, with a volume of 27,036 shares.

John Hancock Investors Trust Price Performance

The business's 50-day simple moving average is $13.11 and its two-hundred day simple moving average is $13.20.

John Hancock Investors Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.294 per share. This represents a $1.18 annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Friday, September 11th.

Institutional Trading of John Hancock Investors Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in JHI. Sit Investment Associates Inc. grew its holdings in John Hancock Investors Trust by 12.1% during the 4th quarter. Sit Investment Associates Inc. now owns 597,048 shares of the financial services provider's stock worth $8,162,000 after acquiring an additional 64,495 shares in the last quarter. World Investment Advisors acquired a new position in John Hancock Investors Trust in the first quarter worth about $299,000. IFP Advisors Inc bought a new stake in John Hancock Investors Trust in the second quarter valued at about $32,000. Riverbridge Partners LLC increased its holdings in John Hancock Investors Trust by 4.0% in the first quarter. Riverbridge Partners LLC now owns 47,763 shares of the financial services provider's stock valued at $617,000 after buying an additional 1,855 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in John Hancock Investors Trust by 2.6% during the first quarter. Bank of America Corp DE now owns 33,545 shares of the financial services provider's stock valued at $433,000 after buying an additional 863 shares in the last quarter. Institutional investors own 27.01% of the company's stock.

John Hancock Investors Trust Company Profile

John Hancock Investors Trust NYSE: JHI is a closed-end investment company that seeks to provide investors with exposure to a professionally managed portfolio of securities. As a closed-end fund, it raises capital through an offering of shares and invests that capital in accordance with its stated investment strategy.

The fund is managed by John Hancock Investment Management, an asset-management organization associated with John Hancock. Its portfolio may include investments in publicly traded companies and other securities, with the objective of generating investment income and pursuing long-term capital appreciation, subject to market conditions and the fund's governing documents.

John Hancock Investors Trust is designed for investors seeking a listed, professionally managed investment vehicle rather than operating as an operating company that sells products or services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.