John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

John Hancock Financial Opportunities Fund (NYSE:BTO) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $37.82 and traded as low as $37.02. John Hancock Financial Opportunities Fund shares last traded at $37.3650, with a volume of 38,101 shares traded.

John Hancock Financial Opportunities Fund Trading Up 0.2%

The firm has a 50-day moving average of $39.98 and a 200 day moving average of $37.82.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, September 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp bought a new stake in John Hancock Financial Opportunities Fund during the first quarter worth $206,000. Cetera Investment Advisers increased its stake in shares of John Hancock Financial Opportunities Fund by 18.5% during the 1st quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,315 shares during the last quarter. Redwood Wealth Management Group LLC increased its stake in shares of John Hancock Financial Opportunities Fund by 4.5% during the 1st quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 400 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of John Hancock Financial Opportunities Fund by 4.4% during the 1st quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 639 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings 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 period. 19.55% of the stock is owned by institutional investors.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol BTO. The fund is designed to provide investors with exposure to the financial services sector through a professionally managed portfolio of securities.

The fund invests primarily in the equity securities of companies involved in banking, insurance, diversified financial services, capital markets, consumer finance, real estate finance and related activities.