John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Large Decline in Short Interest

John Hancock Financial Opportunities Fund (NYSE:BTOGet Rating) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 13,300 shares, a decrease of 33.5% from the March 15th total of 20,000 shares. Based on an average trading volume of 56,600 shares, the short-interest ratio is presently 0.2 days.

A number of institutional investors have recently made changes to their positions in BTO. Moors & Cabot Inc. boosted its stake in John Hancock Financial Opportunities Fund by 247.0% during the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the financial services provider’s stock valued at $26,000 after buying an additional 17,795 shares during the last quarter. Huntington National Bank bought a new position in John Hancock Financial Opportunities Fund during the fourth quarter valued at approximately $28,000. Widmann Financial Services Inc. bought a new position in John Hancock Financial Opportunities Fund during the fourth quarter valued at approximately $34,000. Bedel Financial Consulting Inc. bought a new position in John Hancock Financial Opportunities Fund during the fourth quarter valued at approximately $98,000. Finally, Centaurus Financial Inc. bought a new position in John Hancock Financial Opportunities Fund during the third quarter valued at approximately $101,000. 17.93% of the stock is owned by institutional investors.

NYSE BTO opened at $40.08 on Friday. The business has a 50-day moving average price of $42.26 and a 200-day moving average price of $43.72. John Hancock Financial Opportunities Fund has a twelve month low of $35.77 and a twelve month high of $52.88.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Monday, June 13th will be paid a $0.65 dividend. This is a positive change from John Hancock Financial Opportunities Fund’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, June 10th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.49%.

John Hancock Financial Opportunities Fund Company Profile (Get Rating)

John Hancock Financial Opportunities Fund is a closed-end diversified management investment fund. Its objective is to provide a high level of total return consisting of long-term capital appreciation and current income. The company was founded on August 23, 1994 and is headquartered in Boston, MA.

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