John Hancock Preferred Income Fund

John Hancock Preferred Income Fund operates as a closed-end investment fund/investment trust. It seeks to provide a high level of current income consistent with preservation of capital by investing its assets in preferred stocks or other preferred securities, including convertible preferred securities. The company was founded on August 27, 2002 and is headquartered in Boston, MA.

John Hancock Preferred Income Fund II

John Hancock Tax-Advantaged Dividend Income Fund

John Hancock Investors Trust

John Hancock Income Securities Trust

John Hancock Premium Dividend Fund

BOSTON , Nov. 14, 2024 /PRNewswire/ - The John Hancock Closed-End Funds listed in the table below announced earnings1 for the three months ended October 31, 2024. The same data for the comparable three-month period ended October 31, 2023 is also available below.

JOHN HANCOCK CLOSED-END FUNDS RELEASE EARNINGS DATA

BOSTON , Nov. 1, 2024 /PRNewswire/ - The John Hancock closed-end funds listed below declared their monthly distributions today as follows: Declaration Date:         November 1, 2024 Ex Date:                       November 12, 2024 Record Date:                November 12, 2024 Payment Date:             November 29, 2024 Ticker Fund Name Distribution Per Share  Change From Previous Distribution Market Price as of 10/31/2024 Annualized Current Distribution Rate at Market HPI Preferred Income Fund $0.1235 - $17.96 8.25 % HPF Preferred Income Fund II $0.1235 - $17.86 8.30 % HPS Preferred Income Fund III $0.1100 - $16.06 8.22 % PDT Premium Dividend Fund $0.0825 - $12.83 7.72 % HTD Tax-Advantaged Dividend Income Fund $0.1380 - $23.01 7.20 % John Hancock Premium Dividend Fund Premium Dividend Fund (the "Fund") declared its monthly distribution pursuant to the Fund's managed distribution plan (the "PDT Plan"). Under the PDT Plan, the Fund makes monthly distributions of an amount equal to $0.0825 per share.

JOHN HANCOCK CLOSED-END FUNDS DECLARE MONTHLY DISTRIBUTIONS

John Hancock Financial Opportunities Fund

John Hancock Hedged Equity & Income Fund

BOSTON, MA , Sept. 26, 2024 /PRNewswire/ - The nine John Hancock closed-end funds listed below announced today that each fund's Annual Meeting of Shareholders ("Annual Meeting") will be held on February 18, 2025, at 2:00 p.m.

JOHN HANCOCK CLOSED-END FUNDS ANNOUNCE ANNUAL SHAREHOLDER MEETING AND RECORD DATES

The John Hancock Preferred Income Fund offers an 8.04% yield, but its portfolio is split between preferred stocks and corporate bonds, diverging from its stated strategy. The fund's share price has risen 24.18% over the past year, reducing its yield from 9.84% to 8.04%. The fund's net asset value has not kept up with the recent share price appreciation.

HPI: This Preferred Stock Fund Has A Strange Portfolio

The John Hancock Preferred Income Fund offers an attractive 8.88% yield, one of the highest among preferred stock funds. The fund's current yield may not keep up with rising living costs if held in a taxable account. The fund has outperformed its benchmark indices and has a relatively stable distribution history, but its portfolio allocation and valuation should be considered.

HPI: This Fund Is Navigating The Current Environment Well, But It Is Pricy

The John Hancock Preferred Income Fund offers a high level of income, with a current yield of 9.21%, comparable to junk bond and leveraged loan funds. The HPI closed-end fund has not cut its distribution despite the decline in the value of preferred stocks, but its net asset value has decreased by 20.89% over the past three years. The fund's holdings are primarily in preferred stocks and corporate bonds, with significant exposure to the banking sector, but it is probably reasonably safe.

HPI: Take Some Of Your Profits Today

BOSTON , Dec. 19, 2023 /PRNewswire/ - The John Hancock closed-end Preferred Income Fund declared its monthly distribution today as follows: Declaration Date:         December 19, 2023 Ex Date:                       December 28, 2023 Record Date:                December 29, 2023 Payment Date:             January 31, 2024 Ticker Fund Name Distribution Per Share  Change From Previous Distribution Market Price as of 12/18/2023 Annualized Current Distribution Rate at Market HPI Preferred Income Fund $0.1235 - $15.47 9.58 % The Fund listed above has accelerated the declaration, ex-date, and record date of the regularly scheduled January 2024 distribution in order for the Fund to meet its 2023 distribution requirement for federal excise tax purposes. In February 2024, the above Fund expects to resume its regular monthly declaration, distribution and payment schedule.

JOHN HANCOCK CLOSED-END FUND PREFERRED INCOME FUND DECLARES EARLY MONTHLY DISTRIBUTION

BOSTON , Dec. 1, 2023 /PRNewswire/ - The John Hancock closed-end Preferred Income Fund declared its monthly distribution today as follows: Declaration Date:         December 1, 2023 Ex Date:                       December 8, 2023 Record Date:                December 11, 2023 Payment Date:             December 18, 2023 Ticker Fund Name Distribution Per Share  Change From Previous  Distribution Market Price as of 11/30/2023 Annualized Current Distribution Rate at Market HPI Preferred Income Fund $0.1235 - $15.20 9.75 % A portion of a Fund's current distribution 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 a Fund.

JOHN HANCOCK CLOSED-END FUND PREFERRED INCOME FUND DECLARES MONTHLY DISTRIBUTION

John Hancock Preferred Income Fund offers a high level of current income with a yield of 10.10%. The fund's performance has been reasonably good, but its net asset value has been declining and it underperformed compared to indices. The fund has a high allocation to bonds, which may help its performance during rising interest rate periods compared to an all-preferred stock portfolio.

HPI: Too Many Risks To Justify The Price

The John Hancock Preferred Income Fund offers a high yield of 9.84%, surpassing the fixed-income indices. The fund's recent performance has been disappointing, with a decline in share price and a negative total return. HPI's heavy weighting in the banking sector may be a concern for risk-averse investors.

HPI: Some Good Things, But High Leverage Is A Real Concern Right Now

Flaherty & Crumrine Preferred Securities Income Fund Inc

First Trust Preferred Securities & Income ETF

Nuveen Preferred & Income Opportunities Fund

iShares Preferred and Income Securities ETF 

Global X U.S. Preferred ETF

Is there still a chance to buy the bank dip? You bet—with nifty yields up to 9.4%!

3 Preferred Stock Funds Yielding Up To 9.4%

HPI is one of the more popular closed end funds for preferred shares. The very long term (18 years) performance has been fantastic. The last 7.5 years have produced around 3% annually.

HPI: 9.9% Yielding Preferred Fund

Credit Suisse

Flaherty & Crumrine Dynamic Preferred & Income Fund

Flaherty & Crumrine Total Return Fund Inc

First Trust Intermediate Duration Preferred & Income Fund

Nuveen Preferred & Income Term Fund

Nuveen Preferred & Income Securities Fund

Nuveen Preferred & Income 2022 Term Fund

Cohen & Steers Ltd. Duration Preferred & Income Fund, Inc.

Nuveen Variable Rate Preferred & Income Fund

Flaherty & Crumrine Preferred Income Fund Inc

Flaherty & Crumrine Preferred Income OpportunityFund Inc

Cohen & Steers Select Preferred and Income Fund

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

UBS Group AG

Today, I wanted to take a broader look at the preferred closed-end fund space. After struggling for most of the last year due to rapidly-rising interest rates, the latest banking failures sent preferred CEFs spiraling.

Preferred Closed-End Funds: Out Of The Frying Pan Into The Fire

Investors are in desperate need of income to maintain their standard of living in the face of the highest inflation that we have seen in forty years. John Hancock Preferred Income Fund invests in a portfolio of preferred stocks and bonds in order to pay out a very high dividend yield.

HPI: A Great Fixed-Income CEF, Albeit A Pricey One

John Hancock Tax-Advantaged Global Shareholder Yield Fund

ANNOUNCE RESULTS OF ANNUAL MEETINGS OF SHAREHOLDERS BOSTON , Feb. 21, 2023 /PRNewswire/ - The following eight closed-end funds managed by John Hancock Investment Management LLC announced the results of their annual shareholder meetings: John Hancock Financial Opportunities Fund (NYSE: BTO), John Hancock Hedged Equity & Income Fund (NYSE: HEQ), John Hancock Preferred Income Fund (NYSE: HPI), John Hancock Preferred Income Fund II (NYSE: HPF), John Hancock Preferred Income Fund III (NYSE: HPS), John Hancock Premium Dividend Fund (NYSE: PDT), John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD) and John Hancock Tax-Advantaged Global Shareholder Yield Fund (NYSE: HTY) (collectively, the "Funds"). At their annual meetings held today, shareholders of the Funds elected Noni L Ellison to serve for a 1-year term ending at the 2024 Annual Meeting of Shareholders; Dean C.

JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND

The HPI fund provides exposure to preferred stocks and corporate bonds. The fund pays an attractive 8.5% distribution yield.

HPI: Long-Term Amortizing NAV And Distributions Suggest Caution Warranted

Aberdeen Income Credit Strategies Fund

Alpine Global Dynamic Dividend Fund

Aberdeen Standard Global Infr Inc Fd

BlackRock Taxable Municipal Bond Trust

BlackRock Municipal Income Quality Trust

Central and Eastern Europe Fund

Calamos Convertible Opportunities And Income Fund

BNY Mellon Alcentra Global Credit Income 2024 Target Term Fund Inc

Delaware Investments Dividend and Income Fund

Delaware Enhanced Global Dividend & Income Fund

Credit Suisse High Yield Bond Fund

DoubleLine Yield Opportunities Fund

Eagle Point Income Company Inc

Eaton Vance National Municipal Opportunities Trust

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

Eaton Vance Tax-Advantaged Bond & Opportunity Stategies Fund

Ivy High Income Opportunities Fund

Nuveen Core Equity Alpha Fund

Macquarie Global Infrastructure Total Return Fund Inc

Pioneer Municipal High Income Opportunities Fund

Nuveen Municipal Credit Opportunities Fund

Nuveen AMT-Free Municipal Credit Income Fund

Pimco California Municipal Income Fund II

PIMCO Dynamic Income Opportunities Fund

Pimco New York Municipal Income Fund

RiverNorth Flexible Muncpl Incme Fnd Inc

RiverNorth Opportunities Fund, Inc.

Cohen & Steers Reit And Preferred Income Fund Inc

Cushing MLP & Infrastructure Total Return Fund

Delaware Investments

2 out of 23 CEF sectors positive on price and 4 out of 23 sectors positive on NAV last week. DEX will merge with AGD.

Weekly Closed-End Fund Roundup: DEX Will Merge With AGD, Tender Next January (December 11, 2022)

Virtus Dividend Interest & Premium Strategy Fund

RiverNorth Managed Duration Municipal Income Fund Inc

We've got plenty of high-quality dividends on the table as we roll into 2023.

The Safest Way To Get 7.5% Dividends (Perfect For 2023)

HPI invests in a portfolio of preferred stocks and other fixed-income securities in order to provide investors with a very high yield. The closed-end fund is primarily invested in banks and utilities, which is not surprising.

HPI: Solid Income CEF But Should Decline In The Face Of Rising Interest Rates

Blackrock Health Sciences Trust

Cornerstone Strategic Value Fund Inc

Cornerstone Total Return Fund Inc

Eaton Vance Enhanced Equity Income Fund

First Trust / Aberdeen Emerging Opportunity Fund

Eagle Capital Growth Fund Inc

Gabelli Utility Trust

New American High Income Fund

BlackRock Corporate High Yield Fund

Virtus AllianzGI Convertible & Income Fund

Virtus AllianzGI Convertible & Income Fund II

Tortoise Energy Independence Fund, Inc.

Nuveen Missouri Quality Municipal Income Fund

Tortoise MLP Fund

RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.

Oxford Lane Capital

PCM Fund

Pimco California Municipal Income Fund

Pimco Municipal Income Fund II

Pimco California Municipal Income Fund III

Tortoise Power and Energy Infrastructure Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

Virtus Total Return Fund

12 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Tortoise offer tender results.

Weekly Closed-End Fund Roundup: Tortoise Tender Results, NCZ Resumes Distributions (November 6, 2022)

Apollo Tactical Income Fund, Inc.

Ares Dynamic Credit Allocation Fund

Western Asset Mortgage Opportunity Fund

GDL Fund

Nuveen Mortgage Opportunity Term Fund

BNY Mellon Strategic Municipals, Inc.  

Nuveen Quality Municipal Income Fund

Nuveen Municipal Credit Income Fund

Vertical Capital Income Fund.

We review CEF market valuation and performance through the last week of March and highlight recent market action.

CEF Weekly Review: Rates Are Up, Why Are My Loan CEFs Down

Blackrock Debt Strategies Fund Inc

Blackrock Floating Rate Income Strategies Fund Inc

PIMCO Income Strategy Fund

PIMCO Income Strategy Fund II

Pimco New York Municipal Income Fund II

Pimco New York Municipal Income Fund III

Recent market volatility has opened up discount valuation divergences between very similar CEFs.

Pick Up Yield In These CEF Relative Value Switches

HPI is the John Hancock Preferred Income Fund, a CEF that invests mainly in convertible preferred securities, and investment grade fixed-income securities.

HPI Vs. FFC: Similar Results Despite The Differences

John Hancock Mortgage-Backed Securities ETF

John Hancock Preferred Income ETF

BOSTON, Feb. 15, 2022 /PRNewswire/ - John Hancock Investment Management LLC (the "Adviser") today announced changes to the portfolio management teams for John Hancock Preferred Income Fund (NYSE: HPI), John Hancock Preferred Income Fund II (NYSE: HPF), John Hancock Preferred Income Fund III (NYSE: HPS), John Hancock Premium Dividend Fund (NYSE: PDT), John Hancock Tax-Advantaged Divided Fund (NYSE: HTD), John Hancock Income Securities Trust (NYSE: JHS), John Hancock Investors Trust (NYSE: JHI), John Hancock Mortgage-Backed Securities ETF (NYSE Arca: JHMB), and John Hancock Preferred Income ETF (NYSE Arca: JHPI). Each Fund is advised by the Adviser and subadvised by Manulife Investment Management (US) LLC (the "Subadviser").

JOHN HANCOCK ANNOUNCES PORTFOLIO MANAGER CHANGES FOR JOHN HANCOCK CLOSED-END FUNDS AND ETFs

Today, we are taking a refreshed look at the preferred closed-end fund space. We see that the entire space has become more expensive, yet at the same time, distribution yields have dropped - this is mirroring the broader CEF spaces actions.

Closed-End Funds: A Check-Up On The Preferred Space

News for John Hancock Preferred Income Fund ETF (HPI)