John Hancock Pref., Inc.me Fund II (NYSE:HPF)

dockofthebay (97.88) Submitted: 10/24/2008 10:53:30 AM : Start Price: $8.33 HPF Score: +86.00

This closed-end fund invests primarily in preferred shares and bonds of "investment grade." Given events, that term has lost it's meaning. However, if government efforts to prop up banks and inject liquidity into the financial system work out, the shares of this fund should recover. It may take time, as we also apparently have an impending recession to deal with.
In the meanwhile, shareholders are still receiving a great yield. Expect drops in the dividend though.