Short Interest in John Hancock Income Securities Trust (NYSE:JHS) Increases By 64.3%

Key Points

• Short interest in John Hancock Income Securities Trust increased by 64.3% in July, rising from 1,400 shares to 2,300 shares, indicating heightened investor pessimism.
• The trust's quarterly dividend was raised to $0.1435, reflecting a 5.0% dividend yield and an annualized dividend of $0.57.
• Significant institutional investment activity includes notable increases from Wolverine Asset Management and others, indicating growing confidence in the fund.

John Hancock Income Securities Trust (NYSE:JHS - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 2,300 shares, agrowthof64.3% from the June 30th total of 1,400 shares. Based on an average trading volume of 13,700 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 13,700 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On John Hancock Income Securities Trust

A number of large investors have recently added to or reduced their stakes in the company. LPL Financial LLC lifted its holdings in shares of John Hancock Income Securities Trust by 5.6% during the 4th quarter. LPL Financial LLC now owns 35,139 shares of the financial services provider's stock valued at $393,000 after purchasing an additional 1,867 shares during the last quarter. Riverbridge Partners LLC increased its position in John Hancock Income Securities Trust by 3.2% during the 2nd quarter. Riverbridge Partners LLC now owns 96,001 shares of the financial services provider's stock valued at $1,083,000 after buying an additional 2,954 shares in the last quarter. Stifel Financial Corp raised its stake in John Hancock Income Securities Trust by 18.8% in the fourth quarter. Stifel Financial Corp now owns 26,290 shares of the financial services provider's stock valued at $294,000 after buying an additional 4,160 shares during the last quarter. Noble Wealth Management PBC purchased a new stake in John Hancock Income Securities Trust in the first quarter valued at about $52,000. Finally, Wolverine Asset Management LLC boosted its holdings in John Hancock Income Securities Trust by 5,395.0% in the second quarter. Wolverine Asset Management LLC now owns 5,495 shares of the financial services provider's stock worth $62,000 after acquiring an additional 5,395 shares in the last quarter.

John Hancock Income Securities Trust Trading Down 0.0%

Shares of NYSE:JHS traded down $0.01 on Wednesday, reaching $11.44. The company had a trading volume of 8,240 shares, compared to its average volume of 10,211. John Hancock Income Securities Trust has a 52-week low of $10.62 and a 52-week high of $11.87. The firm's 50 day simple moving average is $11.24 and its 200-day simple moving average is $11.22.

John Hancock Income Securities Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were issued a $0.1435 dividend. This is a boost from John Hancock Income Securities Trust's previous quarterly dividend of $0.13. This represents a $0.57 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, June 12th.

John Hancock Income Securities Trust Company Profile

John Hancock Income Securities Trust is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of United States. It invests primarily in corporate and government bonds with average maturity of 7.57 years.