John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Pass Above 50-Day Moving Average – What’s Next?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $35.76 and traded as high as $37.86. John Hancock Financial Opportunities Fund shares last traded at $37.68, with a volume of 44,558 shares trading hands.

John Hancock Financial Opportunities Fund Stock Up 1.4%

The firm has a 50 day simple moving average of $35.76 and a 200 day simple moving average of $35.49.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 11th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $2.60 annualized dividend and a yield of 6.9%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James Financial Inc. increased its holdings in shares of 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 period. Bank of America Corp DE grew its position in John Hancock Financial Opportunities Fund by 19.3% during the third quarter. Bank of America Corp DE now owns 49,343 shares of the financial services provider’s stock worth $1,775,000 after buying an additional 7,998 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its stake in John Hancock Financial Opportunities Fund by 2.1% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 36,882 shares of the financial services provider’s stock worth $1,306,000 after acquiring an additional 761 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of John Hancock Financial Opportunities Fund by 1.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 35,695 shares of the financial services provider’s stock valued at $1,264,000 after acquiring an additional 568 shares in the last quarter. Finally, Samalin Investment Counsel LLC boosted its position in shares of John Hancock Financial Opportunities Fund by 3.9% during the 2nd quarter. Samalin Investment Counsel LLC now owns 27,288 shares of the financial services provider’s stock valued at $967,000 after acquiring an additional 1,035 shares during the last quarter. 19.55% of the stock is owned by institutional investors.

John Hancock Financial Opportunities Fund Company Profile

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.