John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Passes Below 50-Day Moving Average - Here's What Happened

Key Points

• John Hancock Financial Opportunities Fund's share price fell below its 50-day moving average of $36.11, trading as low as $35.30 on Tuesday.
• The fund announced a quarterly dividend of $0.65, resulting in an annualized dividend of $2.60 and a yield of 7.3%.
• Recent institutional activity includes Raymond James Financial Inc. increasing its holdings by 5.3%, now owning 558,810 shares worth approximately $19.8 million.

John Hancock Financial Opportunities Fund (NYSE:BTO - ) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.11 and traded as low as $35.30. John Hancock Financial Opportunities Fund shares last traded at $35.42, with a volume of 22,245 shares trading hands.

John Hancock Financial Opportunities Fund Price Performance

The company's fifty day moving average is $36.11 and its 200-day moving average is $34.51.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Friday, September 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. boosted its holdings in shares of John Hancock Financial Opportunities Fund by 5.3% in the second quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider's stock worth $19,793,000 after buying an additional 28,231 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of John Hancock Financial Opportunities Fund by 13.2% in the first quarter. LPL Financial LLC now owns 210,292 shares of the financial services provider's stock worth $7,173,000 after buying an additional 24,519 shares during the last quarter. Jaffetilchin Investment Partners LLC purchased a new position in shares of John Hancock Financial Opportunities Fund during the 1st quarter worth $815,000. Janney Montgomery Scott LLC boosted its stake in shares of John Hancock Financial Opportunities Fund by 7.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 216,557 shares of the financial services provider's stock worth $7,387,000 after acquiring an additional 15,403 shares during the last quarter. Finally, AlphaCore Capital LLC purchased a new position in shares of John Hancock Financial Opportunities Fund during the 1st quarter worth $512,000. 19.55% of the stock is owned by hedge funds and other 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.

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