John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses 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 Wednesday . The stock has a fifty day moving average of $39.30 and traded as high as $41.26. John Hancock Financial Opportunities Fund shares last traded at $41.05, with a volume of 33,780 shares changing hands.

John Hancock Financial Opportunities Fund Stock Performance

The firm has a 50 day moving average price of $39.39 and a two-hundred day moving average price of $37.55.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 11th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a yield of 6.3%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of John Hancock Financial Opportunities Fund by 3.7% during the fourth quarter. Wells Fargo & Company MN now owns 667,192 shares of the financial services provider’s stock valued at $23,405,000 after acquiring an additional 23,822 shares during the period. Raymond James Financial Inc. increased its holdings in 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 buying an additional 28,231 shares during the last quarter. Royal Bank of Canada increased its holdings in John Hancock Financial Opportunities Fund by 3.3% in the first quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock worth $9,606,000 after buying an additional 8,443 shares during the last quarter. FCA Corp TX raised its position in John Hancock Financial Opportunities Fund by 2.4% during the first quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock valued at $3,192,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Stifel Financial Corp raised its position in John Hancock Financial Opportunities Fund by 0.3% during the fourth quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider’s stock valued at $3,043,000 after acquiring an additional 302 shares in the last quarter. 19.55% of the stock is owned by hedge funds and other institutional investors.

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.