Can Mage Hand wield a Shield?

I’m a caster with Mage Hand, and am wondering if I could use it with a regular Shield to create an ad-hoc Floating Shield.

I ask because:

  • Shields provide +2 AC but weigh 6lbs
  • Mage hand has a weight limit of 10lbs, and a range of 30ft

Would this provide an extra 2 AC to me so long as I have it floating in the same space as myself?

If I move it into an ally’s space, would they then get the 2 AC bonus? What if they’re already wielding a shield themselves?