John Hancock Income Securities Trust (NYSE:JHS) Short Interest Up 64.3% in July

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 significant growth in short interest in 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 daily trading volume, of 13,700 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 13,700 shares, the days-to-cover ratio is presently 0.2 days.

John Hancock Income Securities Trust Price Performance

NYSE:JHS remained flat at $11.46 during trading hours on Friday. The company had a trading volume of 13,647 shares, compared to its average volume of 10,644. The stock has a fifty day simple moving average of $11.25 and a two-hundred day simple moving average of $11.22. John Hancock Income Securities Trust has a fifty-two week low of $10.62 and a fifty-two week high of $11.87.

John Hancock Income Securities Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.1435 per share. The ex-dividend date of this dividend was Thursday, June 12th. This is a positive change 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 dividend yield of 5.0%.

Institutional Trading of John Hancock Income Securities Trust

A number of hedge funds have recently made changes to their positions in the company. Noble Wealth Management PBC bought a new position in shares of John Hancock Income Securities Trust during the first quarter worth about $52,000. Wolverine Asset Management LLC raised its position in shares of John Hancock Income Securities Trust by 5,395.0% during 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of John Hancock Income Securities Trust during the fourth quarter worth about $217,000. Stifel Financial Corp raised its position in shares of John Hancock Income Securities Trust by 18.8% during the fourth quarter. Stifel Financial Corp now owns 26,290 shares of the financial services provider's stock worth $294,000 after acquiring an additional 4,160 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of John Hancock Income Securities Trust by 5.6% during the fourth quarter. LPL Financial LLC now owns 35,139 shares of the financial services provider's stock worth $393,000 after acquiring an additional 1,867 shares during the last quarter.

About John Hancock Income Securities Trust

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.