Closed-end fund distribution notices

As required by federal securities law, we provide our shareholders with 19(a) distribution notices if a portion of the distributions are from a source other than net investment income. The amounts and sources of distributions reported in the notices are estimates and are not provided for tax reporting purposes. They may later be determined to be from taxable net investment income, long-term gains, to the extent permitted by law, and return of capital. The actual amounts and sources for tax reporting purposes will depend on a variety of factors during the remainder of a fund's fiscal year and may be subject to change. Shareholders will receive a Form 1099-DIV for the calendar year that explains how to report fund distributions for federal income-tax purposes.

Financial Opportunities Fund (BTO)

Hedged Equity & Income Fund (HEQ)

Income Securities Trust (JHS)

Investors Trust (JHI)

Preferred Income Fund (HPI)

Preferred Income II Fund (HPF)

Preferred Income III Fund (HPS)

Premium Dividend Fund (PDT)

Tax-Advantaged Dividend Income Fund (HTD)

Tax-Advantaged Global Shareholder Yield Fund (HTY)