John Hancock Preferred Income Fund IIIHPS
Market Cap: $538M
About: John Hancock Preferred Income Fund III is a closed-end, diversified management investment company. Its investment objective is to provide a high level of current income consistent with preservation of capital. The fund's secondary investment objective is to provide growth of capital to the extent consistent with its primary investment objective. It seeks to achieve the objectives by investing a majority of its assets in preferred stocks and other preferred securities, including convertible preferred securities. The portfolio composition of the company consists of the U.S. preferred securities, foreign preferred securities, common stocks, corporate bonds, and the short-term investments.
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
50% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 4
14% more repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 14
3% more funds holding
Funds holding: 60 [Q1] → 62 (+2) [Q2]
1.66% less ownership
Funds ownership: 13.18% [Q1] → 11.52% (-1.66%) [Q2]
10% less capital invested
Capital invested by funds: $64.9M [Q1] → $58.2M (-$6.77M) [Q2]
Research analyst outlook
We haven’t received any recent analyst ratings for HPS.