JHancock Preferred Income III:HPS

    Manage Alerts


    As of 6/11/2021

    52 Wk Avg$17.00$17.04-0.23%
    52 Wk High$19.56$18.396.66%
    52 Wk Low$15.14$15.37-4.84%
    Regular Distribution TypeIncome Only
    Distribution Rate6.82%
    Distribution Amount$0.1100
    Distribution FrequencyMonthly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Funds primary objective is to provide a high level of current income consistent with the preservation of capital. Growth of capital constitutes the secondary objective. Under normal market conditions the Fund will invest at least 80% of its assets in preferred stock and other preferred securities, including convertible preferred securities that are rated investment grade. The investments are allocated among various industry sectors and issuers. However, the Fund expects to emphasize investments in preferred securities issued or guaranteed by U.S. corporations in the utilities sector. It may invest up to 20% of its total assets in a) preferred securities or other fixed income securities rated below investment grade, and b) common stocks or other equity securities that are not considered preferred securities. It will not invest more than 25% of its total assets in any one industry, except in the utilities sector.

    Capital Structure

    As of 6/11/2021

    Total Investment Exposure:$846.378M
    Total Common Assets:$580.378M
    Common Shares Outstanding:31,697,320

    As of 6/11/2021

    Preferred Share Assets:
    Total Debt (USD): $266.000M
    Regulatory Leverage (USD): $266.000M
    Effective Leverage (USD): $266.000M
    Effective Leverage (%): 31.43%
    Annual Expense Ratios

    As of 7/31/2020

      Per Common Share
    Management Fees1.14%
    Other Expenses:0.08%
    Baseline Expense: N/A
    Interest Expense:1.08%
    Total: 2.31%
    Fund Management

    Fund Sponsor
    John Hancock

    Portfolio Managers
    Brad Lutz, Joseph H. Bozoyan

    Category: Fixed Income - Taxable-Preferreds
    Ticker: HPS
    NAV Ticker: XHPSX
    Average Daily Volume (shares): 68,547
    Average Daily Volume (USD): $1.160M
    Inception Date: 6/18/2003
    Inception Share Price: $25.00
    Inception NAV: $23.88
    Tender Offer: No
    Term: No
    Fiscal Year End: July 31
    Third Party Links & Reports


    As of 6/11/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 1/31/2021
    Annualized Distribution Rate on NAV:
    As of 6/11/2021
    Total Return on NAV (12 months):
    As of 6/11/2021
    Avg. Portfolio Coupon:
    As of 6/11/2021
    Total % Portfolio Effectively Leveraged:
    As of 6/11/2021

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 6/11/2021

    PeriodAvg Discount
    6 Month0.07%
    1 Year-0.23%
    3 Year0.48%
    5 Year-0.82%

    As of 6/11/2021

    3 Month1.61
    6 Month1.88
    1 Year2.36
    Pricing History
    Date NAV Premium / Discount


    Calendar Year Total Returns

    As of 5/31/2021
    Category: Morningstar US CEF Preferreds

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 5/31/2021
    Category: Morningstar US CEF Preferreds

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 6/11/2021
    Number of Holdings:
    As of 4/30/2021
    Annual Portfolio Turnover:
    As of 7/31/2020
    Average Bond Price:
    As of 4/30/2021
    Asset Allocation

    As of 4/30/2021 reported by Fund Sponsor

    Top Sectors

    As of 4/30/2021 reported by Fund Sponsor

    Corporate (Super Sector)91.15%
    Preferred Stock66.67%
    Corporate Bond20.54%
    Defensive (Super Sector)13.95%
    Sensitive (Super Sector)2.67%
    Cash Equivalents (Super Sector)1.94%
    Cash Equivalents1.94%
    Top Holdings

    As of 4/30/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    Bl68f9vt Irs Usd R V 03mlibor Sl68f9vt_flo Ccpvanilla$77.00M10.32%
    CenterPoint Energy Inc 7% PRF CONVERT 01/09/2021 USD 1000 - Ser B (1/20th i$35.61M4.77%
    DTE Energy Co Units$27.60M3.70%
    PPL Capital Funding Inc. 0%$20.81M2.79%
    Morgan Stanley Deposit Shs Repr 1/1000th Non-Cum Pfd Shs Series -E-$19.95M2.67%
    Diversified Healthcare Trust 0%$19.66M2.63%
    Dominion Energy Inc Series A$18.32M2.45%
    Citigroup Inc Repr 1/100th 7 1/8 Non-Cum Perp Pfd Shs Series J$17.38M2.33%
    Bl68f9vt Irs Usd P F 2.13640 Sl68f9vt_fix Ccpvanilla$-79.19M-10.61%
    Us 10yr Note (Cbt)jun21 Xcbt 20210621$-89.78M-12.03%
    Credit Quality

    As of 4/30/2021 reported by Fund Sponsor

    Maturity Breakdown

    As of 4/30/2021 reported by Fund Sponsor

    Country Allocation

    As of 4/30/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income17.38%
    United States - Equity16.01%
    Japan - Fixed Income1.10%
    United Kingdom - Equity0.62%
    Canada - Fixed Income0.57%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.


    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.