John Hancock Premium Dividend Fund (NYSE:PDT) Reaches New 52-Week Low - What's Next?

Key Points

• John Hancock Premium Dividend Fund fell to a new 52-week low of $11.90, below its 50-day and 200-day moving averages of $12.62 and $12.87, respectively.
• The fund declared a monthly dividend of $0.0883 per share, equivalent to an annualized yield of approximately 8.9%; the ex-dividend date is September 11.
• Institutional investors own 12.98% of the fund, with several hedge funds recently increasing their positions, including PNC Financial Services, which more than doubled its stake.

John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.90 and last traded at $11.8850, with a volume of 97470 shares. The stock had previously closed at $12.10.

John Hancock Premium Dividend Fund Price Performance

The business has a fifty day moving average price of $12.62 and a 200 day moving average price of $12.87.

John Hancock Premium Dividend Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be given a dividend of $0.0883 per share. This represents a c) annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Friday, September 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PDT. Arlington Capital Management Inc. grew its stake in John Hancock Premium Dividend Fund by 7.2% in the 2nd quarter. Arlington Capital Management Inc. now owns 21,440 shares of the real estate investment trust's stock valued at $278,000 after acquiring an additional 1,441 shares during the last quarter. SHP Wealth Management purchased a new position in John Hancock Premium Dividend Fund during the 4th quarter valued at about $27,000. Pathway Financial Advisers LLC raised its position in John Hancock Premium Dividend Fund by 1.2% during the first quarter. Pathway Financial Advisers LLC now owns 231,745 shares of the real estate investment trust's stock worth $3,036,000 after acquiring an additional 2,702 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 acquiring an additional 5,405 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of John Hancock Premium Dividend Fund in the first quarter valued at $115,000. 12.98% of the stock is owned by hedge funds and other institutional investors.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund NYSE: PDT is a closed-end management investment company that seeks to provide current income and long-term capital appreciation. The fund invests primarily in dividend-paying securities, including preferred and common stocks, with an emphasis on companies in the utility and energy sectors.

The fund's portfolio may include securities issued by electric, gas and water utilities, telecommunications companies, pipelines and other infrastructure-related businesses.

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