John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Cross Above 50 Day Moving Average – Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $38.80 and traded as high as $41.53. John Hancock Financial Opportunities Fund shares last traded at $41.1690, with a volume of 45,309 shares traded.

John Hancock Financial Opportunities Fund Stock Performance

The company’s 50-day moving average price is $38.96 and its 200-day moving average price is $37.41.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Thursday, June 11th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FCA Corp TX lifted its holdings in 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 buying an additional 2,064 shares during the last quarter. Cetera Investment Advisers grew its position in shares of John Hancock Financial Opportunities Fund by 18.5% during the first quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 1,315 shares during the last quarter. Fifth Third Bancorp purchased a new position in John Hancock Financial Opportunities Fund during the 1st quarter worth $206,000. Kestra Advisory Services LLC grew its holdings in shares of John Hancock Financial Opportunities Fund by 4.4% during the first quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock worth $541,000 after buying an additional 639 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of John Hancock Financial Opportunities Fund by 3.4% in the 1st quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider’s stock valued at $859,000 after purchasing an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 19.55% of the company’s stock.

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.