John Hancock Premium Dividend Fund (NYSE:PDT) Stock Breaks Above 50 Day Moving Average - What's Next?

Key Points

• PDT shares rose above their 50-day moving average, reaching $12.27 before last trading at $12.1850. The 50-day average is $12.06, while the 200-day average is $12.78.
• The fund declared a monthly dividend of $0.0883, equivalent to approximately $1.06 annually and an 8.7% yield.
• Institutional ownership stands at 12.98%, with several investors recently increasing their positions or initiating new stakes in the fund.

Shares of John Hancock Premium Dividend Fund (NYSE:PDT - Get Free Report) passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $12.06 and traded as high as $12.27. John Hancock Premium Dividend Fund shares last traded at $12.1850, with a volume of 158,752 shares traded.

John Hancock Premium Dividend Fund Price Performance

The business's 50 day moving average is $12.06 and its two-hundred day moving average is $12.78.

John Hancock Premium Dividend Fund Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, October 30th. Shareholders of record on Tuesday, October 13th were paid a $0.0883 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date of this dividend was Tuesday, October 13th.

Institutional Trading of John Hancock Premium Dividend Fund

Several institutional investors and hedge funds have recently made changes to their positions in PDT. Fifth Third Bancorp bought a new position in John Hancock Premium Dividend Fund in the first quarter valued at $115,000. Blue Bell Private Wealth Management LLC lifted its stake in John Hancock Premium Dividend Fund by 10.2% during the third quarter. Blue Bell Private Wealth Management LLC now owns 10,502 shares of the real estate investment trust's stock worth $123,000 after purchasing an additional 968 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 during the last quarter. AdvisorNet Financial Inc lifted its stake in John Hancock Premium Dividend Fund by 36.7% during the third quarter. AdvisorNet Financial Inc now owns 14,898 shares of the real estate investment trust's stock worth $175,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in shares of John Hancock Premium Dividend Fund in the 1st quarter worth about $196,000. Hedge funds and other institutional investors own 12.98% of the company's stock.

About John Hancock Premium Dividend Fund

John Hancock Premium Dividend Fund NYSE: PDT is a diversified closed-end investment company managed by John Hancock Investment Management LLC. The fund seeks to provide investors with a high level of current income while also pursuing long-term capital appreciation and preservation of capital.

The fund invests primarily in income-producing securities, including preferred stocks and dividend-paying common stocks. Its portfolio has historically emphasized companies in the utilities sector, although the fund may invest across other industries and in both domestic and international markets.

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