HPS stock touches 52-week high at $17.06 amid strong yearly gains

In a notable performance, John Hancock Preferred Income Fund III (HPS) stock has reached a 52-week high, trading at $17.06. This peak reflects a significant uptrend for the fund, which has seen an impressive 1-year change, boasting a 26.49% increase. Investors have shown increased confidence in HPS, as the fund's strategic moves and market conditions have propelled its value to this new high over the past year, marking a period of robust growth for the stock.

InvestingPro Insights

In light of John Hancock Preferred Income Fund III (HPS) reaching a new 52-week high, a deeper dive into the fund's performance and financial health is provided by InvestingPro data and tips. With a market capitalization of $542.71 million, HPS presents itself as a notable player in its sector. The fund's P/E ratio stands at a lofty 201.79, suggesting a premium valuation by the market relative to its earnings.

Investors may also find the fund's dividend yield of 7.78% particularly attractive, as it reflects a significant return on investment through dividends alone. This yield is supported by the fact that HPS has consistently paid dividends for 22 consecutive years, demonstrating a strong commitment to shareholder returns.

The fund's revenue for the last twelve months as of Q2 2024 was $51.23 million, with a gross profit margin of 100%, indicating that the fund is generating revenue efficiently. Additionally, the fund is trading at its 52-week high, which aligns with the InvestingPro Tip that it is trading near its peak for the year.

For investors seeking additional insights and tips, InvestingPro offers a comprehensive list of tips, including the current RSI suggesting the stock is in overbought territory, and the consideration that the stock generally trades with low price volatility, providing a more stable investment option. More InvestingPro Tips can be accessed through their platform, offering detailed analyses and guidance on HPS and other investment opportunities.

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