John Hancock Premium Dividend Fund (NYSE:PDT) Sees Unusually-High Trading Volume – Still a Buy?

John Hancock Premium Dividend Fund (NYSE:PDT) shares saw unusually-high trading volume on Tuesday . Approximately 36,758 shares were traded during trading, a decline of 51% from the previous session’s volume of 74,653 shares.The stock last traded at $12.68 and had previously closed at $12.75.

John Hancock Premium Dividend Fund Stock Performance

The stock’s 50 day moving average price is $12.77 and its two-hundred day moving average price is $12.68.

John Hancock Premium Dividend Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 13th will be paid a $0.0825 dividend. This represents a $0.99 annualized dividend and a yield of 7.78%. The ex-dividend date of this dividend is Monday, January 13th.

Institutional Investors Weigh In On John Hancock Premium Dividend Fund

A number of large investors have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. increased its position in John Hancock Premium Dividend Fund by 7.3% during the second quarter. J.W. Cole Advisors Inc. now owns 17,921 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 1,221 shares in the last quarter. Commonwealth Equity Services LLC increased its position in John Hancock Premium Dividend Fund by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 120,791 shares of the real estate investment trust’s stock worth $1,423,000 after purchasing an additional 2,041 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in John Hancock Premium Dividend Fund by 1.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 223,925 shares of the real estate investment trust’s stock valued at $2,637,000 after purchasing an additional 4,118 shares during the last quarter. Second Line Capital LLC lifted its holdings in John Hancock Premium Dividend Fund by 11.6% in the 2nd quarter. Second Line Capital LLC now owns 46,377 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 4,816 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of John Hancock Premium Dividend Fund during the 2nd quarter worth about $164,000. 12.98% of the stock is owned by institutional investors and hedge funds.

John Hancock Premium Dividend Fund Company Profile

John Hancock Premium Dividend Fund is a closed ended equity 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 public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors, with an emphasis on the utilities sector.