John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Cross Above 50 Day Moving Average – Here’s Why

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $32.15 and traded as high as $32.88. John Hancock Financial Opportunities Fund shares last traded at $32.18, with a volume of 32,141 shares.

John Hancock Financial Opportunities Fund Trading Up 1.2 %

The stock’s fifty day simple moving average is $32.14 and its 200-day simple moving average is $29.66.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, September 13th. This represents a $2.60 dividend on an annualized basis and a yield of 8.08%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of John Hancock Financial Opportunities Fund by 0.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 210,614 shares of the financial services provider’s stock valued at $6,230,000 after purchasing an additional 1,818 shares in the last quarter. Cornerstone Advisors LLC acquired a new stake in shares of John Hancock Financial Opportunities Fund in the 2nd quarter valued at $2,727,000. Aurora Investment Counsel raised its holdings in shares of John Hancock Financial Opportunities Fund by 0.5% in the 2nd quarter. Aurora Investment Counsel now owns 89,279 shares of the financial services provider’s stock valued at $2,501,000 after purchasing an additional 429 shares in the last quarter. Shaker Financial Services LLC grew its position in shares of John Hancock Financial Opportunities Fund by 92.5% in the 2nd quarter. Shaker Financial Services LLC now owns 40,840 shares of the financial services provider’s stock valued at $1,144,000 after buying an additional 19,629 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its position in shares of John Hancock Financial Opportunities Fund by 400.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 39,148 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 31,319 shares during the last quarter. 19.55% of the stock is currently owned by institutional investors and hedge funds.

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.