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John Hancock Preferred Income Fund III (HPS)

Financial Services | Asset Management | Boston, United States | NYSE
14.35 USD -0.12 (-0.829%) ⇩ (July 13, 2026, 4 p.m. EDT)
After hours: 14.35
Short-term:★★⯪☆☆Long-term:★☆☆☆☆Dividends:★★☆☆☆
Hot Take ↕ | July 11, 2026, 3:37 a.m. EDT

The immediate outlook remains flat due to a lack of directional catalysts, though the asset trades near its 52-week lows. The longer-term picture is significantly more concerning, as the business has suffered a nearly 30% decline over the last nine years, with the most recent annual performance showing another double-digit drop. This persistent downward trajectory suggests the market views the underlying operations as deteriorating rather than offering a margin of safety. While the headline yield looks attractive at over 9%, the payout ratio exceeds 100%, indicating the fund is distributing more than it earns, which is unsustainable without eroding capital. Consequently, the income stream is fragile, and the price action reflects a deep loss of confidence in the fund's ability to generate future value.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoTheta ✓0.009184
AutoETS0.011032
AutoARIMA0.011202
MSTL0.012058

Forecast horizon: 45 days | Selected: AutoTheta

Forecast Reliability
Score 65%
H-stat 0.54
Ljung-Box p 0.000
Jarque-Bera p 0.347
Excess Kurtosis -0.67
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-07-12
Last Dividend Date 2026-07-12
Debt to Equity Ratio 59.36
Revenue per Share 1.593
Market Cap 461,623,168
Trailing P/E 12.26
Beta 0.68
Profit Margins 73.63%
Website https://www.jhinvestments.com/Fund/Overview.aspx?ProductType=ClosedEnd&FundID=34300&ClassCode=CE&BackToFundTableType=Price

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.77% 9.01% 8.99% 8.67%
Dividend History
Date Dividend Yield %
2026-07-13 0.110 0.766551
2026-06-11 0.110 0.768156
2026-05-11 0.110 0.743746
2026-04-13 0.110 0.768156
2026-03-12 0.110 0.762301
2026-02-12 0.110 0.749319
2026-01-12 0.110 0.758621
2025-12-11 0.110 0.761246
2025-11-13 0.110 0.730412
2025-10-14 0.110 0.718954
2025-09-12 0.110 0.729927
2025-08-11 0.110 0.755494
2025-07-11 0.110 0.774648
2025-06-12 0.110 0.779037
2025-05-12 0.110 0.761773
2025-04-11 0.110 0.795372
2025-03-13 0.110 0.748299
2025-02-13 0.110 0.709220
2025-01-13 0.110 0.780142
2024-12-12 0.110 0.717547
2024-11-12 0.110 0.690088
2024-10-11 0.110 0.652045
2024-09-13 0.110 0.663050
2024-08-12 0.110 0.702427
2024-07-11 0.110 0.679432
2024-06-13 0.110 0.702875
2024-05-10 0.110 0.716146
2024-04-10 0.110 0.728477
2024-03-08 0.110 0.717080
2024-02-09 0.110 0.743746
2024-01-11 0.110 0.755494
2023-12-08 0.110 0.834598
2023-11-10 0.110 0.874404
2023-10-11 0.110 0.856698
2023-09-08 0.110 0.793651
2023-08-10 0.110 0.784034
2023-07-12 0.110 0.784034
2023-06-09 0.110 0.788530
2023-05-10 0.110 0.817844
2023-04-12 0.110 0.773558
2023-03-10 0.110 0.763889
2023-02-10 0.110 0.717080
2023-01-12 0.110 0.711514
2022-12-09 0.110 0.776288
2022-11-10 0.110 0.740741
2022-10-12 0.110 0.760193
2022-09-09 0.110 0.686213
2022-08-10 0.110 0.639907
2022-07-08 0.110 0.694883
2022-06-10 0.110 0.652045
2022-05-11 0.110 0.677340
2022-04-08 0.110 0.631458
2022-03-10 0.110 0.641026
2022-02-10 0.110 0.644783
2022-01-12 0.110 0.590763
2021-12-10 0.110 0.576218
2021-11-10 0.110 0.560081
2021-10-08 0.110 0.578947
2021-09-10 0.110 0.582011
2021-08-11 0.110 0.570539
2021-07-09 0.110 0.570539
2021-06-10 0.110 0.567595
2021-05-12 0.110 0.604728
2021-04-09 0.110 0.597501
2021-03-10 0.110 0.638421
2021-02-10 0.110 0.639535
2021-01-13 0.110 0.666263
2020-12-10 0.110 0.650503
2020-11-10 0.110 0.670732
2020-10-09 0.110 0.676507
2020-09-10 0.110 0.674433
2020-08-12 0.110 0.652432
2020-07-10 0.110 0.695322
2020-06-10 0.110 0.661455
2020-05-08 0.110 0.730897
2020-04-09 0.110 0.733823
2020-03-11 0.110 0.659868
2020-02-12 0.110 0.557527
2020-01-10 0.110 0.564392
2019-12-11 0.110 0.583554
2019-11-08 0.110 0.579252
2019-10-10 0.110 0.574113
2019-09-12 0.122 0.632780
2019-08-09 0.122 0.647215
2019-07-10 0.122 0.631143
2019-06-12 0.122 0.641093
2019-05-10 0.122 0.652406
2019-04-10 0.122 0.647215
2019-03-08 0.122 0.663043
2019-02-08 0.122 0.672547
2019-01-11 0.122 0.707657
2018-12-12 0.122 0.718492
2018-11-09 0.122 0.682708
2018-10-10 0.122 0.686164
2018-09-13 0.122 0.640420
2018-08-10 0.122 0.661605
2018-07-11 0.122 0.653455
2018-06-08 0.122 0.668127
2018-05-10 0.122 0.679666
2018-04-11 0.122 0.688099
2018-03-09 0.122 0.697143
2018-02-09 0.122 0.717647
2018-01-11 0.122 0.653455
2017-12-08 0.122 0.655209
2017-11-10 0.122 0.668493
2017-10-11 0.122 0.651014
2017-09-08 0.122 0.665213
2017-08-09 0.122 0.642443
2017-07-11 0.122 0.639748
2017-06-08 0.122 0.648591
2017-05-09 0.122 0.644820
2017-04-11 0.122 0.651709
2017-03-09 0.122 0.689266
2017-02-09 0.122 0.666303
2017-01-11 0.122 0.675152
2016-12-08 0.122 0.706427
2016-11-09 0.122 0.692788
2016-10-11 0.122 0.663043
2016-09-08 0.122 0.604859
2016-08-09 0.122 0.611529
2016-07-07 0.122 0.610611
2016-06-09 0.122 0.622132
2016-05-10 0.122 0.630817
2016-04-07 0.122 0.648936
2016-03-09 0.122 0.653455
2016-02-09 0.122 0.693576
2016-01-12 0.122 0.681184
2015-12-09 0.122 0.728358
2015-11-09 0.122 0.715123
2015-10-08 0.122 0.722749
2015-09-09 0.122 0.734940
2015-08-11 0.122 0.724466
2015-07-09 0.122 0.721467
2015-06-09 0.122 0.710128
2015-05-07 0.122 0.692395
2015-04-09 0.122 0.656267
2015-03-10 0.122 0.667031
2015-02-10 0.122 0.661605
2014-12-24 0.122 0.672547
2014-12-09 0.122 0.669962
2014-11-10 0.122 0.682327
2014-10-09 0.122 0.703576
2014-09-10 0.122 0.696347
2014-08-07 0.122 0.709715
2014-07-09 0.122 0.691610
2014-06-10 0.122 0.695950
2014-05-08 0.122 0.681945
2014-04-09 0.122 0.706427
2014-03-11 0.122 0.732293
2014-02-11 0.122 0.729665
2013-12-26 0.122 0.761073
2013-12-10 0.122 0.795825
2013-11-07 0.122 0.743449
2013-10-09 0.122 0.750307
2013-09-11 0.122 0.725759
2013-08-08 0.122 0.710542
2013-07-09 0.122 0.681564
2013-06-11 0.122 0.693970
2013-05-09 0.122 0.597161
2013-04-09 0.122 0.619604
2013-03-07 0.122 0.624360
2013-02-07 0.122 0.626927
2012-12-27 0.122 0.643121
2012-12-11 0.122 0.643121
2012-11-08 0.122 0.616785
2012-10-09 0.122 0.606362
2012-09-12 0.122 0.611835
2012-08-09 0.122 0.609391
2012-07-10 0.122 0.634096
2012-06-07 0.122 0.640420
2012-05-09 0.122 0.638075
2012-04-10 0.122 0.678155
2012-03-08 0.112 0.618785
2012-02-09 0.112 0.615723
2011-12-28 0.112 0.645161
2011-12-08 0.112 0.658824
2011-11-09 0.112 0.648899
2011-10-11 0.112 0.673887
2011-09-08 0.112 0.648899
2011-08-09 0.112 0.728218
2011-07-07 0.112 0.642939
2011-06-09 0.112 0.650029
2011-05-10 0.112 0.669456
2011-04-07 0.112 0.672269
2011-03-09 0.112 0.668258
2011-02-09 0.112 0.692213
2011-01-11 0.112 0.704846
2010-12-09 0.112 0.694358
2010-11-09 0.112 0.649275
2010-10-07 0.112 0.637813
2010-09-09 0.112 0.632054
2010-08-10 0.112 0.654206
2010-07-08 0.112 0.721185
2010-06-09 0.112 0.748163
2010-05-11 0.112 0.750670
2010-04-08 0.112 0.691785
2010-03-09 0.112 0.707517
2010-02-09 0.112 0.765550
2010-01-12 0.112 0.730117
2009-12-09 0.112 0.777778
2009-11-10 0.112 0.812183
2009-10-08 0.112 0.796020
2009-09-09 0.112 0.838951
2009-08-11 0.112 0.805755
2009-07-09 0.112 0.954003
2009-06-09 0.112 0.914286
2009-05-07 0.112 1.037037
2009-04-08 0.112 1.236203
2009-03-10 0.112 1.694402
2009-02-10 0.132 1.150828
2009-01-08 0.132 1.064516
2008-12-11 0.132 1.431670
2008-11-10 0.132 1.109244
2008-10-09 0.132 1.915820
2008-09-12 0.132 0.897959
2008-08-11 0.132 0.787120
2008-07-11 0.132 0.876494
2008-06-09 0.132 0.725275
2008-05-09 0.132 0.707775
2008-04-10 0.132 0.734558
2008-03-10 0.132 0.720131
2008-02-08 0.132 0.644846
2008-01-10 0.132 0.669711
2007-12-11 0.330 1.788618
2007-11-07 0.132 0.717391
2007-10-09 0.132 0.667678
2007-09-12 0.132 0.668693
2007-08-09 0.132 0.665994
2007-07-10 0.132 0.618267
2007-06-07 0.132 0.599455
2007-05-09 0.132 0.580475
2007-04-10 0.132 0.571429
2007-03-08 0.132 0.583554
2007-02-08 0.132 0.581754
2007-01-10 0.132 0.586146
2006-12-07 0.204 0.909496
2006-11-09 0.132 0.595668
2006-10-10 0.132 0.610264
2006-09-07 0.132 0.624113
2006-08-09 0.132 0.635532
2006-07-11 0.132 0.668354
2006-06-08 0.132 0.662983
2006-05-09 0.132 0.668693
2006-04-11 0.132 0.672098
2006-03-09 0.132 0.639225
2006-02-09 0.132 0.637989
2006-01-11 0.132 0.648330
2005-12-08 0.148 0.752033
2005-11-09 0.148 0.729064
2005-10-11 0.148 0.718796
2005-09-08 0.148 0.662192
2005-08-09 0.148 0.673646
2005-07-07 0.148 0.671202
2005-06-09 0.148 0.670594
2005-05-12 0.159 0.728022
2005-04-14 0.159 0.744034
2005-03-10 0.159 0.693112
2005-02-10 0.159 0.669474
2005-01-13 0.159 0.694930
2004-12-09 0.159 0.693415
2004-11-10 0.180 0.753138
2004-10-14 0.180 0.746888
2004-09-09 0.180 0.754085
2004-08-12 0.180 0.768574
2004-07-15 0.180 0.759494
2004-06-10 0.180 0.807899
2004-05-13 0.180 0.851869
2004-04-15 0.180 0.767591
2004-03-11 0.180 0.716275
2004-02-12 0.180 0.722022
2004-01-15 0.180 0.721732
2003-12-11 0.180 0.736196
2003-11-13 0.180 0.736498
2003-10-09 0.180 0.749688
2003-09-11 0.180 0.754085
2003-08-14 0.180 0.753138
Additional Data
dividendRate 1.32
dividendYield 9.05
exDividendDate 2026-07-13
trailingAnnualDividendRate 1.32
trailingAnnualDividendYield 0.091223225
lastDividendValue 0.11
lastDividendDate 2026-07-13
dividendDate 2019-02-28

Info Dump

Attribute Value
52 Week Change 0.019580364
Address1 200 Berkeley Street
All Time High 25.67
All Time Low 5.5
Ask 0.0
Ask Size 200
Average Daily Volume10 Day 57,070
Average Daily Volume3 Month 50,540
Average Volume 50,540
Average Volume10Days 57,070
Beta 0.675
Bid 0.0
Bid Size 800
Book Value 14.365
City Boston
Country United States
Crypto Tradeable 0
Currency USD
Current Price 14.35
Current Ratio 2.817
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 14.45
Day Low 14.2761
Debt To Equity 59.36
Dividend Date 1,551,312,000
Dividend Rate 1.32
Dividend Yield 9.05
Earnings Growth -0.051
Earnings Quarterly Growth -0.048
Earnings Timestamp End 1,743,677,940
Earnings Timestamp Start 1,743,677,940
Ebitda Margins 0.0
Eps Trailing Twelve Months 1.17
Esg Populated 0
Ex Dividend Date 1,783,900,800
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 14.5286
Fifty Day Average Change -0.17859936
Fifty Day Average Change Percent -0.01229295
Fifty Two Week Change Percent 1.9580364
Fifty Two Week High 15.68
Fifty Two Week High Change -1.3299999
Fifty Two Week High Change Percent -0.084821425
Fifty Two Week Low 13.8
Fifty Two Week Low Change 0.5500002
Fifty Two Week Low Change Percent 0.039855085
Fifty Two Week Range 13.8 - 15.68
Financial Currency USD
First Trade Date Milliseconds 1,055,856,600,000
Five Year Avg Dividend Yield 8.68
Free Cashflow 20,400,982
Full Exchange Name NYSE
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 51,250,088
Has Pre Post Market Data 1
Held Percent Insiders 0.00044
Held Percent Institutions 0.1333
Implied Shares Outstanding 32,168,861
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Is Earnings Date Estimate 0
Language en-US
Last Dividend Date 1,783,900,800
Last Dividend Value 0.11
Last Fiscal Year End 1,753,920,000
Long Business Summary John Hancock Preferred Income Fund III is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors. The fund primarily invests in preferred securities or other fixed-income securities rated investment grade or higher by Moody's or Standard & Poor's. It benchmarks the performance of its portfolio against the Bank of America Merrill Lynch Hybrid Preferred Securities Index and Barclays U.S. Aggregate Bond Index. John Hancock Preferred Income Fund III was formed on June 19, 2003 and is domiciled in the United States.
Long Name John Hancock Preferred Income Fund III
Market us_market
Market Cap 461,623,168
Market State PREPRE
Max Age 86,400
Message Board Id finmb_4321316
Most Recent Quarter 1,769,817,600
Net Income To Common 37,737,584
Next Fiscal Year End 1,785,456,000
Non Diluted Market Cap 469,021,993
Open 14.51
Operating Cashflow 40,745,480
Operating Margins 0.88505
Payout Ratio 1.1282
Phone 617 663 3000
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 14.35
Post Market Time 1,783,976,700
Previous Close 14.47
Price Hint 2
Price To Book 0.99895585
Price To Sales Trailing12 Months 9.007266
Profit Margins 0.73634005
Quick Ratio 1.48
Quote Source Name Delayed Quote
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change -0.12
Regular Market Change Percent -0.829301
Regular Market Day High 14.45
Regular Market Day Low 14.2761
Regular Market Day Range 14.2761 - 14.45
Regular Market Open 14.51
Regular Market Previous Close 14.47
Regular Market Price 14.35
Regular Market Time 1,783,972,803
Regular Market Volume 42,283
Return On Assets 0.0382
Return On Equity 0.08140001
Revenue Growth 0.011
Revenue Per Share 1.593
Sand P52 Week Change 0.20847368
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 32,168,861
Shares Percent Shares Out 0.0044
Shares Short 128,900
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 163,488
Short Name John Hancock Preferred Income F
Short Ratio 2.44
Source Interval 15
State MA
Symbol HPS
Total Debt 274,300,000
Total Revenue 51,250,088
Tradeable 0
Trailing Annual Dividend Rate 1.32
Trailing Annual Dividend Yield 0.091223225
Trailing Eps 1.17
Trailing P E 12.264958
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 14.7164
Two Hundred Day Average Change -0.36639977
Two Hundred Day Average Change Percent -0.024897378
Type Disp Equity
Volume 42,283
Website https://www.jhinvestments.com/Fund/Overview.aspx?ProductType=ClosedEnd&FundID=34300&ClassCode=CE&BackToFundTableType=Price
Zip 2,116