Is Major Move Coming For John Hancock Patriot Premium Div Fund II (PDT) After This Bullish Wedge Up Pattern?

July 17, 2017 - By Vivian Park

Investors sentiment decreased to 0.88 in Q4 2016. Its down 0.38, from 1.26 in 2016Q3. It is negative, as 7 investors sold John Hancock Patriot Premium Div Fund II shares while 17 reduced holdings. 7 funds opened positions while 14 raised stakes. 2.82 million shares or 8.61% less from 3.08 million shares in 2016Q3 were reported.
Northwestern Mutual Wealth Management owns 5,267 shares. Invest Centers Of America has invested 0.04% in John Hancock Patriot Premium Div Fund II (NYSE:PDT). Sei Investments has invested 0% in John Hancock Patriot Premium Div Fund II (NYSE:PDT). Plante Moran Advsrs Limited Liability Company holds 0.01% or 682 shares. Morgan Stanley owns 199,600 shares. Frontier Investment Mgmt has invested 0.51% in John Hancock Patriot Premium Div Fund II (NYSE:PDT). Utd Cap Fin Advisers Lc, California-based fund reported 10,146 shares. Cohen & Steers Incorporated reported 22,804 shares. Ftb reported 20,000 shares. Raymond James Financial Ser Advsrs accumulated 77,131 shares. Joel Isaacson And Lc holds 0.01% or 3,022 shares in its portfolio. Edgemoor has invested 0.02% in John Hancock Patriot Premium Div Fund II (NYSE:PDT). Community Commercial Bank Na owns 530 shares or 0% of their US portfolio. National Planning has 23,332 shares for 0.03% of their portfolio. Financial Bank Of America De holds 0% or 167,808 shares.

The stock of John Hancock Patriot Premium Div Fund II (PDT) formed an up wedge with $18.01 target or 7.00 % above today’s $16.83 share price. The 5 months wedge indicates low risk for the $812.12M company. If the $18.01 price target is reached, the company will be worth $56.85M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

It is 0.03% or $0 reaching $16.83 per share. It is down 8.55% since July 17, 2016 and is uptrending. It has underperformed by 8.15% the S&P500.

Another recent and important John Hancock Patriot Premium Div Fund II (NYSE:PDT) news was published by Prnewswire.com which published an article titled: “John Hancock Advisers, LLC Announces Name Change of MFC Global Investment …” on January 03, 2011.

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