John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Large Decline in Short Interest

John Hancock Financial Opportunities Fund (NYSE:BTO) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 9,304 shares, a drop of 60.6% from the January 29th total of 23,617 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 58,427 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 58,427 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are sold short.

Institutional Trading of John Hancock Financial Opportunities Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp lifted its holdings in John Hancock Financial Opportunities Fund by 0.3% during the 4th quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider’s stock worth $3,043,000 after buying an additional 302 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of 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 buying an additional 491 shares during the period. Ameriprise Financial Inc. raised its position 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 acquiring an additional 552 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake 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 acquiring an additional 568 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of John Hancock Financial Opportunities Fund in the third quarter worth approximately $36,000. 19.55% of the stock is currently owned by institutional investors and hedge funds.

John Hancock Financial Opportunities Fund Stock Down 4.7%

NYSE:BTO traded down $1.76 during mid-day trading on Friday, hitting $35.70. 119,821 shares of the company’s stock were exchanged, compared to its average volume of 46,309. John Hancock Financial Opportunities Fund has a fifty-two week low of $27.73 and a fifty-two week high of $39.85. The company has a 50 day simple moving average of $37.00 and a 200-day simple moving average of $35.89.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Thursday, December 11th.

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.