John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Below Fifty Day Moving Average of $27.95

Shares of John Hancock Financial Opportunities Fund (NYSE:BTOGet Free Report) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $27.95 and traded as low as $27.93. John Hancock Financial Opportunities Fund shares last traded at $28.26, with a volume of 58,662 shares trading hands.

Wall Street Analyst Weigh In

Separately, Scotiabank raised John Hancock Financial Opportunities Fund to a “strong-buy” rating in a research note on Thursday, May 9th.

Check Out Our Latest Research Report on BTO

John Hancock Financial Opportunities Fund Price Performance

The stock has a 50-day moving average of $27.95 and a two-hundred day moving average of $28.57.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were given a $0.65 dividend. The ex-dividend date was Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 9.20%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FCA Corp TX boosted its position in shares of John Hancock Financial Opportunities Fund by 0.6% in the 4th quarter. FCA Corp TX now owns 91,296 shares of the financial services provider’s stock valued at $2,746,000 after purchasing an additional 507 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of John Hancock Financial Opportunities Fund by 3.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 26,337 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 831 shares during the period. L.M. Kohn & Company boosted its position in shares of John Hancock Financial Opportunities Fund by 7.8% in the 1st quarter. L.M. Kohn & Company now owns 12,301 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 890 shares during the period. J.W. Cole Advisors Inc. lifted its stake in John Hancock Financial Opportunities Fund by 17.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 8,703 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in John Hancock Financial Opportunities Fund by 0.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 210,614 shares of the financial services provider’s stock worth $6,230,000 after acquiring an additional 1,818 shares in the last quarter. Institutional investors and hedge funds own 19.55% of the company’s stock.

About John Hancock Financial Opportunities Fund

(Get Free Report)

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.

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