Could John Hancock Pref. Income Fund II See a Reversal After Breaking Its 52-Week Low?

 Could John Hancock Pref. Income Fund II See a Reversal After Breaking Its 52 Week Low?

The stock of John Hancock Pref. Income Fund II (NYSE:HPF) hit a new 52-week low and has $18.75 target or 10.00% below today’s $20.83 share price. The 7 months bearish chart indicates high risk for the $438.88M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $18.75 price target is reached, the company will be worth $43.89M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 44,007 shares traded hands. John Hancock Pref. Income Fund II (NYSE:HPF) has declined 0.42% since March 31, 2016 and is downtrending. It has underperformed by 2.95% the S&P500.

More notable recent John Hancock Pref. Income Fund II (NYSE:HPF) news were published by: Seekingalpha.com which released: “John Hancock Preferred Income Fund II: A Good Or Bad Investment?” on July 04, 2016, also Seekingalpha.com with their article: “John Hancock Preferred Income Fund: A Good Or Bad Investment?” published on July 21, 2016, Seekingalpha.com published: “John Hancock Preferred Income Fund III: A Good Or Bad Investment?” on July 13, 2016. More interesting news about John Hancock Pref. Income Fund II (NYSE:HPF) were released by: Seekingalpha.com and their article: “In Search Of Income: Preferred CEFs (Part II)” published on December 14, 2014 as well as Prnewswire.com‘s news article titled: “John Hancock Preferred Income Funds, Premium Dividend Fund and Tax-Advantaged …” with publication date: June 01, 2015.

John Hancock Preferred Income Fund II is a closed-end management investment company. The company has a market cap of $438.88 million. The Fund’s primary investment objective is to provide a high level of current income consistent with preservation of capital. It currently has negative earnings. The Fund’s secondary investment objective is to provide growth of capital to the extent consistent with its primary investment objective.

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