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Two Blokes Tue at 1:00 PM -
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John Hancock Preferred Income Fund III (HPS) aims for attractive total returns from preferred stocks and convertible securities, emphasizing income generation with a 9.1% dividend yield. Despite a 5.6% price decline over the past year, HPS's total return is slightly positive at 2%, but it trades at a premium to NAV. HPS's heavy leverage (38.36%) and focus on investment-grade borrowers present risks in a high-interest-rate environment, potentially affecting price stability and dividend sustainability.
