The stock of John Hancock Pref. Income Fund II (NYSE:HPF) reached all time low today, Nov, 2 and still has $17.90 target or 14.00% below today’s $20.81 share price. This indicates more downside for the $438.46 million company. This technical setup was reported by Barchart.com. If the $17.90 PT is reached, the company will be worth $61.38M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 45,757 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 $438.46 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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