John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Pass Above 50-Day Moving Average – Time to Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $34.40 and traded as high as $35.92. John Hancock Financial Opportunities Fund shares last traded at $35.88, with a volume of 20,025 shares traded.

John Hancock Financial Opportunities Fund Stock Up 0.2%

The firm has a 50 day moving average price of $34.40 and a two-hundred day moving average price of $35.25.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 7.2%. The ex-dividend date is Thursday, December 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several hedge funds and other institutional investors have recently made changes to their positions in BTO. Stephens Inc. AR boosted its position in John Hancock Financial Opportunities Fund by 3.2% during the 2nd quarter. Stephens Inc. AR now owns 12,889 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 400 shares during the period. J.W. Cole Advisors Inc. raised its position 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 valued at $378,000 after purchasing an additional 491 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of John Hancock Financial Opportunities Fund by 2.5% during 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of John Hancock Financial Opportunities Fund by 1.6% in the second quarter. Steward Partners Investment Advisory LLC now owns 35,695 shares of the financial services provider’s stock worth $1,264,000 after buying an additional 568 shares during the period. Finally, Gilliland Jeter Wealth Management LLC grew its stake in shares of John Hancock Financial Opportunities Fund by 2.1% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 36,882 shares of the financial services provider’s stock valued at $1,306,000 after buying an additional 761 shares in the last quarter. Institutional investors and hedge funds own 19.55% of the company’s stock.

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.