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John Hancock Preferred Income Fund Ii
A closed-end fund (CEF) is a type of investment vehicle that pools capital from many investors to invest in a diversified portfolio of stocks, bonds, or other securities. Unlike mutual funds, which are open-end funds that can be redeemed at any time, CEFs are traded on an exchange like stocks and have a fixed number of shares outstanding. This means that investors can buy and sell shares of a CEF throughout the day, just like any other stock.
Highland Income Fund (HPF) is a CEF that invests primarily in high-income-generating instruments such as high-yield bonds, floating rate loans, and other income-generating securities. The fund aims to provide investors with high current income and capital preservation.
The fund is managed by Highland Capital Management Fund Advisors, L.P., a subsidiary of Highland Capital Management Partners, LLC.
As of March 2, 2023, the fund's top ten holdings include:
* Corporate bonds (16.8%)
* High-yield bonds (15.9%)
* Structured finance securities (10.4%)
* Bank loans (8.8%)
* Convertible bonds (7.3%)
* Preferred stocks (6.4%)
* Equities 4.8%
* Money market funds 4.6%
* Collateralized loan obligations (4.5%)
* Asset-backed securities (4.3%)
Year-to-date, the fund has returned around 3.9%, slightly underperforming the S&P 500's 4.2% return. Over the past year, the fund has returned around 11.3%, outperforming the S&P 500's 8.7% return.
The fund has a high dividend yield of 8.76% as of March 2, 2023, and the distribution rate is currently $0.077 per share. The fund pays monthly dividends.
The fund's management team is composed of experienced investment professionals, including Bradley J. Ross, Joel Beam, and Michael D. Huelshoff.
Highland Income Fund (HPF) is a CEF that offers investors high current income and capital preservation, with a focus on high-income-generating instruments such as high-yield bonds, floating rate loans, and other income-generating securities. It has a long-term track record of outperforming the S&P 500 and offers a high dividend yield of 8.76%. However, like all investments, it's essential to conduct thorough research and consider your risk tolerance and financial goals before investing in HPF or any other investment vehicle.