John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Significant Growth in Short Interest

John Hancock Financial Opportunities Fund (NYSE:BTO) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 8,786 shares, an increase of 172.5% from the May 31st total of 3,224 shares. Based on an average daily volume of 43,471 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTO. Wolverine Asset Management LLC purchased a new position in John Hancock Financial Opportunities Fund in the fourth quarter worth approximately $2,671,000. Readystate Asset Management LP purchased a new stake in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at approximately $2,481,000. Raymond James Financial Inc. raised its holdings in shares of John Hancock Financial Opportunities Fund by 5.3% in the 2nd quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider’s stock valued at $19,793,000 after purchasing an additional 28,231 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of John Hancock Financial Opportunities Fund by 3.7% in the 4th quarter. Wells Fargo & Company MN now owns 667,192 shares of the financial services provider’s stock valued at $23,405,000 after purchasing an additional 23,822 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of John Hancock Financial Opportunities Fund in the 3rd quarter valued at $744,000. Hedge funds and other institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Stock Up 0.1%

BTO stock opened at $38.75 on Monday. The business’s 50-day moving average is $37.04 and its two-hundred day moving average is $36.55. John Hancock Financial Opportunities Fund has a 1 year low of $32.01 and a 1 year high of $39.85.

John Hancock Financial Opportunities Fund Announces Dividend

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

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.