John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Crosses Below 50 Day Moving Average of $27.81

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $27.81 and traded as low as $26.78. John Hancock Financial Opportunities Fund shares last traded at $26.79, with a volume of 56,514 shares.

Analysts Set New Price Targets

Separately, Scotiabank upgraded John Hancock Financial Opportunities Fund to a “strong-buy” rating in a report on Thursday, May 9th.

John Hancock Financial Opportunities Fund Stock Performance

The stock has a fifty day simple moving average of $27.81 and a 200-day simple moving average of $28.75.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 9.71%. The ex-dividend date of this dividend is Thursday, June 13th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new position in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at about $2,375,000. Formidable Asset Management LLC grew its holdings in shares of John Hancock Financial Opportunities Fund by 24.0% in the 4th quarter. Formidable Asset Management LLC now owns 12,910 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 2,500 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at about $1,233,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at about $1,092,000. Finally, J.W. Cole Advisors Inc. bought a new position in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at about $223,000. Institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets across the globe. It seeks to invest in the stocks of companies operating across the financial services sector.