HPI

John Hancock Preferred Income Fund operates as a diversified, closed-end management investment company that seeks to provide high current income with capital preservation as a secondary objective. The fund primarily invests in preferred securities and other income-producing securities issued by U.S. and foreign companies. John Hancock Investment Management LLC serves as the fund's investment adviser, leveraging its expertise in fixed-income markets to construct and manage the portfolio. The fund's holdings span multiple sectors, with significant allocations to financial services, utilities, and energy companies, reflecting the traditional issuers of preferred securities. As a closed-end fund, it trades on the New York Stock Exchange under the ticker symbol HPI and maintains a fixed number of shares, which can trade at premiums or discounts to net asset value based on market demand. The fund employs leverage as part of its investment strategy to enhance income generation, though this approach introduces additional risk and volatility. John Hancock Preferred Income Fund distributes monthly dividends to shareholders, making it attractive to income-focused investors seeking regular cash flow. The fund's management team actively monitors credit quality, interest rate sensitivity, and sector allocation to navigate changing market conditions while pursuing its investment objectives within the preferred securities marketplace.