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John Hancock Preferred Income F Message Board

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  • p2phr1 p2phr1 Sep 22, 2011 6:41 AM Flag

    Strange price action

    not sure,I have held since 2008, and every time it would get close to nav it would go down, now trades at a 7% premium to nav, fund managers must be buying for the dividend

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    • I've held one or another and up to all three of HPI, HPF, and HPS since 2005. Typically when one gets a significant amount below NAV relative to the others, then I buy that one. I do trade, selling one or more if it goes to a significant premium to NAV relative to the others in the group. But a while back (early Aug) HPI went up and above NAV, so I moved from HPI into HPF like normal. But HPI has kept on going up and is now disconnected from the other two. I don't see any 'fund manager' who is not a total idiot buying HPI for the dividend and not buying HPF for more than 5% less when it pays the same dividend and has a slightly higher NAV at the moment. It has to be something other than an intelligent person that keeps buying HPI and ignoring HPF and HPS.

21.34-0.11(-0.51%)Oct 27 4:02 PMEDT