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

John Hancock Financial Opportunities Fund (NYSE:BTO) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $36.17 and traded as high as $36.76. John Hancock Financial Opportunities Fund shares last traded at $36.75, with a volume of 26,070 shares traded.

John Hancock Financial Opportunities Fund Price Performance

The company’s 50 day simple moving average is $36.17 and its 200-day simple moving average is $34.27.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, September 12th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its holdings in John Hancock Financial Opportunities Fund by 39.2% during the second quarter. Osaic Holdings Inc. now owns 17,188 shares of the financial services provider’s stock valued at $609,000 after buying an additional 4,839 shares during the period. Bank of America Corp DE grew its holdings in John Hancock Financial Opportunities Fund by 24.9% in the second quarter. Bank of America Corp DE now owns 41,345 shares of the financial services provider’s stock worth $1,464,000 after purchasing an additional 8,240 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in John Hancock Financial Opportunities Fund by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 22,951 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 552 shares during the last quarter. Raymond James Financial Inc. grew its holdings in John Hancock Financial Opportunities Fund by 5.3% in the second quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider’s stock worth $19,793,000 after purchasing an additional 28,231 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in John Hancock Financial Opportunities Fund by 4.8% in the second quarter. J.W. Cole Advisors Inc. now owns 10,674 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 491 shares during the last quarter. 19.55% of the stock is owned by hedge funds and other institutional investors.

About John Hancock Financial Opportunities Fund

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.