John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Below Fifty Day Moving Average of $27.95

John Hancock Financial Opportunities Fund (NYSE:BTO) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $27.95 and traded as low as $27.93. John Hancock Financial Opportunities Fund shares last traded at $28.26, with a volume of 58,662 shares trading hands.

Analysts Set New Price Targets

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

John Hancock Financial Opportunities Fund Stock Performance

The business has a 50-day moving average price of $27.95 and a two-hundred day moving average price of $28.57.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 9.20%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of institutional investors and hedge funds have recently made changes to their positions in BTO. Redwood Wealth Management Group LLC bought a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter worth $220,000. J.W. Cole Advisors Inc. acquired a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter worth $223,000. Abel Hall LLC acquired a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter worth $241,000. Private Advisor Group LLC grew its stake in shares of John Hancock Financial Opportunities Fund by 24.1% during 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, L.M. Kohn & Company grew its stake in shares of John Hancock Financial Opportunities Fund by 22.2% during the fourth quarter. L.M. Kohn & Company now owns 11,411 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 2,070 shares during the period. 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.