John Hancock Preferred Income Fund III (HPS)
John Hancock Preferred Income Fund III operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Boston, MA, US. The stock last traded at $14.39, up 0.21% on the session, giving a market capitalisation of $462.5M. On trailing twelve-month figures it carries a trailing P/E of 12.19, a net margin of 74.8%. Its beta of 0.68 implies it has historically moved less than the broad market.
The John Hancock Preferred Income Fund III (HPS) functions as a closed-end investment vehicle, primarily focused on fixed-income securities. Its overall management falls under John Hancock Investment Management LLC, with additional co-management provided by John Hancock Asset Management. The fund strategically allocates capital within the United States' fixed-income markets, aiming to acquire debt instruments from companies operating across a diverse array of sectors. A significant portion of its portfolio is dedicated to preferred securities and other fixed-income instruments that possess an investment-grade credit rating or higher from either Moody's or Standard & Poor's. To assess its performance, the fund measures itself against both the Bank of America Merrill Lynch Hybrid Preferred Securities Index and the Barclays U.S. Aggregate Bond Index. This U.S.-domiciled fund was originally established on June 19, 2003.
John Hancock Preferred Income Fund III is most often compared with the following Financial Services names: