John Hancock Hedged Equity & Income Fund Buyback
OLI recorded this information on 12/14/2023
Company:
John Hancock Hedged Equity & Income Fund
Buyback:
HEQ buyback
Share Amount Authorized:
10% of current outstanding shares
Buyback Details:
John Hancock Financial Opportunities Fund (NYSE: BTO), John Hancock Hedged Equity & Income Fund (NYSE: HEQ), John Hancock Income Securities Trust (NYSE: JHS), John Hancock Investors Trust (NYSE: JHI), John Hancock Premium Dividend Fund (NYSE: PDT), John Hancock Tax-Advantaged Dividend Income Fund (NYSE: HTD), and John Hancock Tax-Advantaged Global Shareholder Yield (NYSE: HTY) (each a "Fund" and collectively, the "Funds") announced today that the Board of Trustees has renewed the Funds' share repurchase plans. The Board of Trustees approved the renewal of the share repurchase plans as part of its ongoing evaluation of options to enhance shareholder value and potentially decrease the discount between the market price and the net asset value per share ("NAV") of the Funds' common shares. Under the share repurchase plans, each Fund may purchase, in the open market, between January 1, 2024 and December 31, 2024, up to an additional 10% of its outstanding common shares (based on common shares outstanding as of December 31, 2023). The Board of Trustees will review the plan periodically and may authorize adjustment of its terms and size.
John Hancock Hedged Equity & Income Fund is a closed-end, diversified management investment company. The Fund's investment objective is to provide total return with a focus on current income and gains and also consisting of long-term capital appreciation. The Fund uses an equity strategy, as well as futures and call writing, to pursue its investment objective.
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