John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• John Hancock Financial Opportunities Fund shares crossed above their 50-day moving average, reaching $41.53 and last trading at $41.1690, compared with a 50-day average of $38.80 and a 200-day average of $37.35.
• The fund declared a quarterly dividend of $0.65, equivalent to $2.60 annually and a 6.3% yield.
• Institutional investors increased their positions in the fund, collectively owning 19.55% of its shares; notable buyers included Raymond James, Bank of America and Osaic Holdings.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report)'s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $38.80 and traded as high as $41.53. John Hancock Financial Opportunities Fund shares last traded at $41.1690, with a volume of 45,309 shares changing hands.

John Hancock Financial Opportunities Fund Stock Up 1.0%

The stock's fifty day moving average is $38.80 and its 200-day moving average is $37.35.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%.

Institutional Trading of John Hancock Financial Opportunities Fund

Large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. raised its stake in shares of John Hancock Financial Opportunities Fund by 5.3% in the 2nd quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider's stock valued at $19,793,000 after acquiring an additional 28,231 shares in the last quarter. Ameriprise Financial Inc. boosted its position in John Hancock Financial Opportunities Fund by 2.5% during the second 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 during the period. Bank of America Corp DE grew its holdings in John Hancock Financial Opportunities Fund by 24.9% during the second quarter. Bank of America Corp DE now owns 41,345 shares of the financial services provider's stock valued at $1,464,000 after purchasing an additional 8,240 shares during the last quarter. Osaic Holdings Inc. grew its holdings in John Hancock Financial Opportunities Fund by 39.2% during the second quarter. Osaic Holdings Inc. now owns 17,188 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 4,839 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of John Hancock Financial Opportunities Fund by 5.8% in the third quarter. Private Advisor Group LLC now owns 21,336 shares of the financial services provider's stock valued at $768,000 after purchasing an additional 1,174 shares during the period. Institutional investors own 19.55% of the company's stock.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund NYSE: BTO is a closed-end management investment company sponsored by John Hancock Investment Management, a division of Manulife Investment Management. Since its inception in August 2004, the fund has sought to deliver total return through a combination of current income and capital appreciation. As a publicly traded fund, it offers investors access to a diversified portfolio of financial services companies that might otherwise require direct equity investments or specialized mandates.

The fund primarily invests in common stocks, preferred stocks and convertible securities issued by companies in the banking, insurance, brokerage and specialty finance sectors.

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