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John Hancock Preferred Income Fund (HPI)

NYSE - NYSE Delayed Price. Currency in USD
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20.74-0.02 (-0.10%)
At close: 3:59PM EDT
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  • r
    rightthing
    I'm glad i came aboard this month. This is a fine, well-run fund, and a great long-term hold.
  • R
    Ronald
    Great exchange traded fund. Monthly income and very steady. High monthly income too! I have owned HPI for years and I realize that this is a good one. I have never lost one night of sleep. I am a retired dividend investor - so perfect for me. I will be adding more when able. A no brainer.
  • j
    jasper
    Can anyone explain to me why this has lost over 40% of its value from being $24? It is $14.50 today. I’m assuming it’s going to continue to pay the dividends for the next few months. Yield is now 10%
  • F
    Frankie
    What is the difference between HPI and HPF?
  • C
    Clifford Martin
    HPI and other John Hancock funds have reduced their dividends as per the release below:

    "The current distributions represent a decrease of 11.8% for HPI and HPF and 10.0% for HPS from their previous monthly distributions. The reductions were done to better align the funds' distributions relative to the funds' earning potential. The new distributions are payable October 31, 2019 to shareholders of record on October 11, 2019 with an ex-date of October 10, 2019.

    The adjustment in the distribution rates is the result of an analysis conducted by the investment team managing the portfolio with respect to the rate and sustainability of the Funds' distributions. As portfolio and market conditions change, the distribution rate paid by the Funds could change.

    A portion of the Funds' current distributions may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of the Funds. As required under the Investment Company Act of 1940, a notice with the estimated components of the distribution will be mailed to shareholders at the time of payment if it does not consist solely of net investment income. At this time, the Funds anticipate that the notice accompanying the current distribution will include an estimate of return of capital. Such notice will also be posted to the Funds' website at www.jhinvestments.com. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes."
  • b
    bigeisback
    after china... omg... we are still alive..... maybe we should buy low and sell high.... what a novel idea.... and how about that Div., take that too.
  • b
    bigeisback
    hum.... HPI is getting lower, and its the end of the yr.... you might notice this is typical for HPI... then up after the new yr. We just might have a good opportunity to load up.... for next yr. What else can you do... and the lower the price the better the div.... I do not think the would is coming to an end... yet.... I am sure their are a few of you that might play the market for the big end.
  • S
    SteveK
    what we have here is a buying opportunity. Most likely some of the big holders had to liquidate shares to raise cash to handle their own redemption's. Not as good as December of 2018 but pretty good. May still go down if the greater market continues to decline and other holders are forced to liquidate shares so now is the time to keep an eye on this one and other CEFs.
  • b
    bigeisback
    ok... we have been down, down to levels of over a yr... you might think its a bit over sold... no matter what the interest rates might in next 12 months... you got a simple choice.. buy low.. or bail... and buy something tha pays... hum... .03% rate and high.. ok, thas a good deal... Yah !
  • S
    SteveK
    Now we're getting somewhere. Just a reminder, this was at $18.84 on Dec 1, 2018 during that liquidity crunch. I believe it got down to $11 something during the 2008 troubles. But, eventually it comes back.
  • b
    bigeisback
    Well….. Hpi below 20 becomes a buy... and in this great market.... I am not sure where the sell point might be.... what I am interested in is the DIV.... I want to know if hpi might push it up.... when I first got into hpi…. it was .155
  • b
    bigeisback
    forget China... just ask Joe
  • S
    SteveK
    Look at the Holders list for this. Before the distribution decrease there were more big investment/brokerage/bank names in the list that were using HPI to juice their income stream. Now there are a few big names but a bunch of lesser known companies. I think the big names have been selling their stakes and moving the money somewhere else (or using it for something else?) That's putting pressure on the price. If you go to CEFconnect.com and plug in HPI you'll see the premium over NAV has been shrinking.
  • k
    ken
    Finally hps and hpi is moving in the right direction.Still both are way behind there 52 week highs, should be in the 20's!! Tf they don't move high they should increase there dividends!!
  • S
    SteveK
    I think what we're seeing now is interest rate pressure on HPI. On Jan 4 the rate of the 10 year started increasing, from .93 on that day to 1.13 on Friday, the 8th.
  • b
    bigeisback
    it looks look to me... so... sure.. sell low, buy high... oh.. its actually buy low sell high,.. that might work better.
  • b
    bigeisback
    my dear friends.... what is going on... its great... no one knows... up and dn.... so... I am putting my bet in you know who… he has done pretty good for econ so far... how else can you play it.... ok... just unload, let us know how it works out.
  • j
    jim
    does anybody know the expense ratio
  • Y
    Yahoo Finance Insights
    HPI is down 5.04% to 23.09
  • S
    SteveK
    Getting into "good deal" territory. Since interest rates aren't doing anything significant and volume is at least double normal volume that the price drop is from the big holders raising cash to meet other obligations. If virus cases keep climbing, and there's no reason to think they won't, look for more down days in the market which will put pressure on HPI as the big holders raise more cash. Probably won't get down to the $9-$10 a share it was at earlier this year so don't wait for it to reach that once-in-a-lifetime level again.
    Bearish