HPS: Decent Yield For Retirees That Want To Protect Capital [Seeking Alpha]
John Hancock Preferred Income Fund III Preferred Income Fund III (HPS)
US:NYSE Investor Relations:
jhinvestments.com/fund/overview.aspx?producttype=closedend&fundid=34300&classcode=ce
Company Research
Source: Seeking Alpha
HPS trades at a modest 2.62% premium to NAV, below its five-year average, supporting accumulation at current levels. The fund's 9.3% yield, focus on preferred and investment-grade securities, and stability suit retirees prioritizing income over capital appreciation. Leverage at 37.34% and sector concentration in financials pose risks, especially if interest rate cuts are delayed or sector headwinds emerge. Prae_Studio/iStock via Getty Images Overview When I previously covered the John Hancock Preferred Income Fund III ( HPS ), I issued a buy rating due to the attractive valuation at the time. Since then, the market sentiment has drastically shifted. Market indices
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Sec Filings
- 3/31/26 - Form N-CSRS
- 3/30/26 - Form NPORT-P
- 1/27/26 - Form 4
- HPS's page on the SEC website