John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Strong Trading Volume – Time to Buy?

John Hancock Financial Opportunities Fund (NYSE:BTO) saw unusually-high trading volume on Friday . Approximately 101,797 shares traded hands during trading, an increase of 68% from the previous session’s volume of 60,428 shares.The stock last traded at $37.3350 and had previously closed at $37.37.

John Hancock Financial Opportunities Fund Stock Down 1.4%

The company’s fifty day moving average price is $35.30 and its two-hundred day moving average price is $35.46.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, December 11th. This represents a $2.60 annualized dividend and a yield of 7.1%.

Institutional Trading of John Hancock Financial Opportunities Fund

Several hedge funds have recently modified their holdings of BTO. Fifth Third Bancorp acquired a new position in John Hancock Financial Opportunities Fund during the second quarter worth $35,000. Blue Trust Inc. purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth $35,000. Atlantic Union Bankshares Corp acquired a new position in shares of John Hancock Financial Opportunities Fund during the 3rd quarter worth $36,000. Farther Finance Advisors LLC acquired a new position in shares of John Hancock Financial Opportunities Fund during the 4th quarter worth $43,000. Finally, Thompson Investment Management Inc. increased its holdings in shares of John Hancock Financial Opportunities Fund by 149.0% in the 2nd quarter. Thompson Investment Management Inc. now owns 1,616 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 967 shares in the last quarter. 19.55% of the stock is owned by institutional investors and hedge funds.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund (NYSE: BTO) is a closed-end management investment company sponsored by John Hancock Investment Management, a division of Manulife Investment Management. Since its inception in August 2004, the fund has sought to deliver total return through a combination of current income and capital appreciation. As a publicly traded fund, it offers investors access to a diversified portfolio of financial services companies that might otherwise require direct equity investments or specialized mandates.

The fund primarily invests in common stocks, preferred stocks and convertible securities issued by companies in the banking, insurance, brokerage and specialty finance sectors.