John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Update

Key Points

• Short interest in John Hancock Financial Opportunities Fund (NYSE:BTO) dropped by 59.1% in August, totaling 12,600 shares as of August 15th, compared to 30,800 shares at the end of July.
• The fund announced a quarterly dividend of $0.65 per share, with a record date of September 12th, resulting in an annualized dividend of $2.60 and a yield of 6.9%.
• Institutional investors have been active, with several firms increasing their stakes, leading to hedge funds now owning 19.55% of the fund's stock.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report) was the target of a large decline in short interest in August. As of August 15th, there was short interest totaling 12,600 shares, adeclineof59.1% from the July 31st total of 30,800 shares. Based on an average daily trading volume, of 34,000 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 34,000 shares, the short-interest ratio is presently 0.4 days.

John Hancock Financial Opportunities Fund Price Performance

Shares of NYSE BTO traded up $0.19 during midday trading on Monday, reaching $37.78. The company's stock had a trading volume of 11,762 shares, compared to its average volume of 41,714. John Hancock Financial Opportunities Fund has a 12-month low of $27.73 and a 12-month high of $39.87. The firm has a 50 day moving average price of $36.06 and a 200-day moving average price of $34.15.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, September 12th.

Institutional Trading of John Hancock Financial Opportunities Fund

Several institutional investors have recently added to or reduced their stakes in the business. AlphaCore Capital LLC purchased a new stake in shares of John Hancock Financial Opportunities Fund during the first quarter worth about $512,000. LPL Financial LLC increased its position in shares of John Hancock Financial Opportunities Fund by 13.2% during the first quarter. LPL Financial LLC now owns 210,292 shares of the financial services provider's stock valued at $7,173,000 after acquiring an additional 24,519 shares in the last quarter. Triumph Capital Management increased its position in shares of John Hancock Financial Opportunities Fund by 14.9% during the first quarter. Triumph Capital Management now owns 26,505 shares of the financial services provider's stock valued at $904,000 after acquiring an additional 3,440 shares in the last quarter. Private Advisor Group LLC increased its position in shares of John Hancock Financial Opportunities Fund by 26.4% during the first quarter. Private Advisor Group LLC now owns 19,521 shares of the financial services provider's stock valued at $666,000 after acquiring an additional 4,076 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its position in John Hancock Financial Opportunities Fund by 5.4% in the 1st quarter. Gilliland Jeter Wealth Management LLC now owns 36,121 shares of the financial services provider's stock worth $1,232,000 after purchasing an additional 1,845 shares during the period. 19.55% of the stock is currently 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.