John Hancock Financial Opportunities Fund (NYSE:BTO)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a research note issued to investors on Thursday.

Shares of John Hancock Financial Opportunities Fund (BTO) traded down 2.61% during mid-day trading on Thursday, reaching $31.77. The company’s stock had a trading volume of 138,432 shares. The company has a 50-day moving average price of $34.46 and a 200 day moving average price of $35.01. John Hancock Financial Opportunities Fund has a 52-week low of $26.86 and a 52-week high of $37.86.

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A number of hedge funds and other institutional investors have recently modified their holdings of BTO. Janney Montgomery Scott LLC raised its position in John Hancock Financial Opportunities Fund by 4.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 177,812 shares of the financial services provider’s stock valued at $6,407,000 after purchasing an additional 8,055 shares in the last quarter. BB&T Securities LLC raised its position in John Hancock Financial Opportunities Fund by 18.7% during the 2nd quarter. BB&T Securities LLC now owns 10,988 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 1,732 shares in the last quarter. FCA Corp TX raised its position in John Hancock Financial Opportunities Fund by 0.8% during the 2nd quarter. FCA Corp TX now owns 107,736 shares of the financial services provider’s stock valued at $3,882,000 after purchasing an additional 827 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in John Hancock Financial Opportunities Fund by 4.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,321 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 498 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in John Hancock Financial Opportunities Fund during the 2nd quarter valued at $247,000. 18.39% of the stock is owned by institutional investors and hedge funds.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund (the Fund) is a closed-end, diversified management investment company. The Fund’s investment objective is to provide a high level of total return consisting of long-term capital appreciation and current income. The Fund utilizes a credit facility agreement to increase its assets available for investments.

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