John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Short Interest Jumps 305.3%

John Hancock Financial Opportunities Fund (NYSE:BTO) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 3,838 shares, a growth of 305.3% from the August 31st total of 947 shares. Based on an average trading volume of 33,873 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp purchased a new stake in shares of John Hancock Financial Opportunities Fund in the first quarter worth about $206,000. Cetera Investment Advisers raised its holdings 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 valued at $302,000 after buying an additional 1,315 shares during the period. Redwood Wealth Management Group LLC raised its holdings 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 valued at $331,000 after buying an additional 400 shares during the period. Kestra Advisory Services LLC lifted its position in 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 acquiring an additional 639 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in John Hancock Financial Opportunities Fund by 3.4% during the 1st quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider’s stock worth $859,000 after acquiring an additional 796 shares in the last quarter. 19.55% of the stock is owned by hedge funds and other institutional investors.

John Hancock Financial Opportunities Fund Stock Performance

Shares of BTO stock traded up $0.12 during mid-day trading on Friday, reaching $36.60. The company’s stock had a trading volume of 35,674 shares, compared to its average volume of 32,736. The company’s 50 day simple moving average is $39.68 and its 200-day simple moving average is $37.87. John Hancock Financial Opportunities Fund has a 12-month low of $32.01 and a 12-month high of $42.00.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 7.1%. The ex-dividend date is Friday, September 11th.

John Hancock Financial Opportunities Fund Company Profile

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.