John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Up 355.7% in March

Key Points

• Short interest surged 355.7% in March to 16,386 shares, leaving a short-interest ratio of 0.3 days and about 0.1% of the company's shares shorted.
• The fund paid a quarterly dividend of $0.65 on March 31 (annualized $2.60), implying a dividend yield of 6.9%.
• Institutional investors hold roughly 19.55% of the fund, with firms like Stifel and Ameriprise modestly increasing positions and several newcomers establishing small stakes.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 16,386 shares, a growth of 355.7% from the March 15th total of 3,596 shares. Based on an average daily volume of 58,956 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company's shares are short sold.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of institutional investors have recently made changes to their positions in the business. Stifel Financial Corp boosted its stake in shares of John Hancock Financial Opportunities Fund by 0.3% in the 4th quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider's stock valued at $3,043,000 after purchasing an additional 302 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of 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 valued at $813,000 after purchasing an additional 552 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of John Hancock Financial Opportunities Fund in the 3rd quarter valued at $36,000. Private Advisor Group LLC boosted its stake in shares of John Hancock Financial Opportunities Fund by 5.8% in the 3rd 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 in the last quarter. Finally, Farther Finance Advisors LLC bought a new stake in John Hancock Financial Opportunities Fund during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 19.55% of the company's stock.

John Hancock Financial Opportunities Fund Stock Down 0.9%

Shares of John Hancock Financial Opportunities Fund stock opened at $37.75 on Friday. John Hancock Financial Opportunities Fund has a 52-week low of $28.70 and a 52-week high of $39.85. The company has a fifty day moving average of $36.33 and a 200-day moving average of $35.54.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%.

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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