John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Below 50 Day Moving Average – Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $38.72 and traded as low as $36.40. John Hancock Financial Opportunities Fund shares last traded at $36.54, with a volume of 50,129 shares traded.

John Hancock Financial Opportunities Fund Stock Performance

The firm’s 50 day moving average is $38.62 and its 200 day moving average is $38.08.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 7.3%. The ex-dividend date was Friday, September 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several institutional investors and hedge funds have recently bought and sold shares of BTO. Fifth Third Bancorp purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 1st quarter valued at $206,000. Cetera Investment Advisers boosted its position in shares of John Hancock Financial Opportunities Fund by 18.5% in 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 in the last quarter. Redwood Wealth Management Group LLC boosted its position in shares of John Hancock Financial Opportunities Fund by 4.5% in 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 in the last quarter. Kestra Advisory Services LLC boosted its position in shares of John Hancock Financial Opportunities Fund by 4.4% in 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 in the last quarter. Finally, Private Advisor Group LLC boosted its position 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 worth $859,000 after purchasing an additional 796 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 is a publicly traded 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 rather than operating as a traditional financial services company.

The fund seeks a high level of current income and long-term capital appreciation by investing primarily in companies involved in banking, insurance, asset management, financial technology and other financial-related activities.