William K. Bacic, a trustee of the John Hancock Preferred Income Fund (NYSE:HPI), recently acquired additional common shares in the fund, according to a regulatory filing. On January 14, Bacic purchased 610 shares at a price of $16.45 each, resulting in a total transaction value of $10,034. The fund, with a market capitalization of $459.2 million, currently offers an attractive 8.93% dividend yield and has maintained dividend payments for 23 consecutive years, according to InvestingPro data.
This acquisition increases Bacic’s holdings to a total of 610 shares in the fund. The transaction was executed directly, as indicated in the filing with the Securities and Exchange Commission. Trading at $17.22, the fund demonstrates relatively low volatility with a beta of 0.98 and trades at a P/E ratio of 7.46. InvestingPro subscribers can access additional insights and metrics about HPI’s financial health and valuation.
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