John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.73 and traded as high as $38.00. John Hancock Financial Opportunities Fund shares last traded at $37.7690, with a volume of 61,740 shares traded.

John Hancock Financial Opportunities Fund Price Performance

The stock’s 50 day simple moving average is $36.73 and its two-hundred day simple moving average is $36.22.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, June 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in John Hancock Financial Opportunities Fund by 3.7% in the fourth quarter. Wells Fargo & Company MN now owns 667,192 shares of the financial services provider’s stock worth $23,405,000 after buying an additional 23,822 shares during the last quarter. Raymond James Financial Inc. raised its stake 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 valued at $19,793,000 after buying an additional 28,231 shares during the period. Royal Bank of Canada lifted its position in shares of John Hancock Financial Opportunities Fund by 3.3% during the 1st quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock valued at $9,606,000 after buying an additional 8,443 shares during the last quarter. FCA Corp TX grew its stake in shares of John Hancock Financial Opportunities Fund by 2.4% during the 1st quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock worth $3,192,000 after acquiring an additional 2,064 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of 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 acquiring an additional 302 shares during the period. 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.