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

John Hancock Financial Opportunities Fund (NYSE:BTO) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $37.04 and traded as high as $38.92. John Hancock Financial Opportunities Fund shares last traded at $38.7530, with a volume of 51,700 shares.

John Hancock Financial Opportunities Fund Price Performance

The business’s 50-day moving average is $37.04 and its two-hundred day moving average is $36.54.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Thursday, June 11th.

Institutional Trading of John Hancock Financial Opportunities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in BTO. FCA Corp TX boosted its holdings in John Hancock Financial Opportunities Fund by 2.4% in the 1st quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock valued at $3,192,000 after purchasing an additional 2,064 shares in the last quarter. Fifth Third Bancorp acquired a new position in John Hancock Financial Opportunities Fund during the 1st quarter worth approximately $206,000. Kestra Advisory Services LLC raised its stake in shares of John Hancock Financial Opportunities Fund by 4.4% during the 1st quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock worth $541,000 after buying an additional 639 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of John Hancock Financial Opportunities Fund by 3.4% during the 1st quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider’s stock worth $859,000 after buying an additional 796 shares in the last quarter. Finally, Redwood Wealth Management Group LLC raised its stake in shares of John Hancock Financial Opportunities Fund by 4.5% during the 1st quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider’s stock worth $331,000 after buying an additional 400 shares in 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.