<< Read Full Article
<< Read Full Article
John Hancock Merging Five Closed-End Stock Funds
John Hancock Funds is merging five closed-end stock funds with similar investment strategies in an effort to cut expenses and increase liquidity.
The boards of the $227 million (PDF Quote)Patriot Premium Dividend Fund I, the $183 million (PGD Quote)Patriot Global Dividend Fund , the $157 million (PPF Quote)Patriot Preferred Dividend Fund and the $227 million (DIV Quote)Patriot Select Dividend Trust approved the reorganization into the $298 million (PDT Quote)Patriot Premium Dividend Fund II in December, and a prospectus is being mailed to investors this week. Shareholders will vote on April 23.
All five of the funds are subadvised by Gregory Phelps and Mark Maloney of Sovereign Asset Management, a wholly owned unit of John Hancock. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
Connect with TheStreet