Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Decreases By 39.7%

Key Points

• Short interest in the John Hancock Financial Opportunities Fund (NYSE:BTO) decreased by 39.7% in August, with only 0.0% of the shares currently short sold.
• The fund announced a quarterly dividend of $0.65 per share, scheduled to be paid on September 30th, representing an annualized yield of 7.2%.
• Several institutional investors, including Raymond James Financial Inc. and Bank of America, have increased their holdings in the fund, with institutional ownership currently at 19.55%.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 7,600 shares, a drop of 39.7% from the August 15th total of 12,600 shares. Based on an average daily trading volume, of 33,000 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company's stock are sold short. Currently, 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 33,000 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of John Hancock Financial Opportunities Fund

A number of institutional investors have recently bought and sold shares of the stock. Stephens Inc. AR boosted its stake in John Hancock Financial Opportunities Fund by 3.2% in the 2nd quarter. Stephens Inc. AR now owns 12,889 shares of the financial services provider's stock worth $457,000 after purchasing an additional 400 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in John Hancock Financial Opportunities Fund by 4.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 10,674 shares of the financial services provider's stock worth $378,000 after purchasing an additional 491 shares in the last quarter. Private Trust Co. NA boosted its stake in John Hancock Financial Opportunities Fund by 33.3% in the 1st quarter. Private Trust Co. NA now owns 2,000 shares of the financial services provider's stock worth $68,000 after purchasing an additional 500 shares in the last quarter. L.M. Kohn & Company boosted its stake in John Hancock Financial Opportunities Fund by 4.5% in the 1st quarter. L.M. Kohn & Company now owns 12,857 shares of the financial services provider's stock worth $439,000 after purchasing an additional 550 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in John Hancock Financial Opportunities Fund by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,951 shares of the financial services provider's stock worth $813,000 after purchasing an additional 552 shares in the last quarter. 19.55% of the stock is currently owned by institutional investors and hedge funds.

John Hancock Financial Opportunities Fund Stock Up 0.6%

Shares of NYSE:BTO traded up $0.21 during trading on Friday, reaching $36.75. The stock had a trading volume of 26,070 shares, compared to its average volume of 29,927. John Hancock Financial Opportunities Fund has a one year low of $27.73 and a one year high of $39.87. The firm's 50-day simple moving average is $36.17 and its 200 day simple moving average is $34.27.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, September 12th.

About John Hancock Financial Opportunities Fund

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.