John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Passes Above 50 Day Moving Average – Here’s Why

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $35.76 and traded as high as $37.86. John Hancock Financial Opportunities Fund shares last traded at $37.68, with a volume of 44,558 shares traded.

John Hancock Financial Opportunities Fund Trading Up 1.4%

The business’s fifty day moving average price is $35.76 and its 200-day moving average price is $35.49.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders 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 dividend yield of 6.9%.

Institutional Trading of John Hancock Financial Opportunities Fund

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

About John Hancock Financial Opportunities Fund

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.