John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Large Volume Increase

John Hancock Financial Opportunities Fund (NYSE:BTOGet Rating) saw unusually-strong trading volume on Friday . Approximately 2,538 shares traded hands during trading, a decline of 91% from the previous session’s volume of 27,514 shares.The stock last traded at $34.21 and had previously closed at $35.47.

John Hancock Financial Opportunities Fund Stock Performance

The firm’s 50 day simple moving average is $37.06 and its 200 day simple moving average is $37.81.

John Hancock Financial Opportunities Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, September 9th. This is an increase from John Hancock Financial Opportunities Fund’s previous quarterly dividend of $0.37. This represents a $2.60 annualized dividend and a dividend yield of 7.53%.

Insiders Place Their Bets

In other John Hancock Financial Opportunities Fund news, insider Steven R. Pruchansky sold 1,091 shares of John Hancock Financial Opportunities Fund stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $37.94, for a total transaction of $41,392.54. Following the transaction, the insider now directly owns 212 shares of the company’s stock, valued at $8,043.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BTO. Raymond James Financial Services Advisors Inc. increased its stake in shares of John Hancock Financial Opportunities Fund by 10.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 406,593 shares of the financial services provider’s stock worth $16,345,000 after buying an additional 37,659 shares during the period. Lincoln National Corp purchased a new position in shares of John Hancock Financial Opportunities Fund in the first quarter worth $742,000. Csenge Advisory Group raised its position in John Hancock Financial Opportunities Fund by 149.0% in the 1st quarter. Csenge Advisory Group now owns 26,103 shares of the financial services provider’s stock worth $1,049,000 after buying an additional 15,620 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 1st quarter valued at about $626,000. Finally, Raymond James & Associates increased its position in shares of John Hancock Financial Opportunities Fund by 9.0% during the 1st quarter. Raymond James & Associates now owns 136,762 shares of the financial services provider’s stock valued at $5,498,000 after purchasing an additional 11,299 shares during the last quarter. 20.87% of the stock is owned by hedge funds and other institutional investors.

About John Hancock Financial Opportunities Fund

(Get Rating)

John Hancock Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets across the globe. It seeks to invest in the stocks of companies operating across the financial services sector.

Further Reading

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