John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Large Volume Increase

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) saw strong trading volume on Friday . 21,442 shares were traded during trading, a decline of 59% from the previous session’s volume of 52,113 shares.The stock last traded at $27.78 and had previously closed at $27.41.

Wall Street Analyst Weigh In

Separately, Scotiabank raised shares of John Hancock Financial Opportunities Fund to a “strong-buy” rating in a research note on Thursday, May 9th.

John Hancock Financial Opportunities Fund Stock Performance

The company’s 50 day simple moving average is $27.86 and its two-hundred day simple moving average is $28.67.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.60 annualized dividend and a dividend yield of 9.28%.

Institutional Trading of John Hancock Financial Opportunities Fund

Hedge funds have recently modified their holdings of the stock. Redwood Wealth Management Group LLC bought a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter valued at approximately $220,000. J.W. Cole Advisors Inc. acquired a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $223,000. Abel Hall LLC acquired a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $241,000. Private Advisor Group LLC raised its holdings in John Hancock Financial Opportunities Fund by 24.1% in the fourth quarter. Private Advisor Group LLC now owns 9,663 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 1,876 shares during the period. Finally, HighTower Advisors LLC raised its holdings in John Hancock Financial Opportunities Fund by 8.9% in the third quarter. HighTower Advisors LLC now owns 9,908 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 811 shares during the period. 19.55% of the stock is owned by institutional investors.

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.