John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Above 50-Day Moving Average - Here's Why

Key Points

• John Hancock Financial Opportunities Fund stock crossed above its 50-day moving average, currently at $35.52, trading as high as $37.55, with the last trade at $37.44.
• The fund has announced a quarterly dividend of $0.65 per share, resulting in an annualized dividend yield of 6.9%.
• Several hedge funds have recently increased their stakes in the fund, with notable increases from Invesco Ltd. (up 1.5%) and Private Trust Co. NA (up 33.3%).

John Hancock Financial Opportunities Fund (NYSE:BTO - )'s stock price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $35.52 and traded as high as $37.55. John Hancock Financial Opportunities Fund shares last traded at $37.44, with a volume of 19,811 shares trading hands.

John Hancock Financial Opportunities Fund Trading Up 0.5%

The company's fifty day simple moving average is $35.52 and its two-hundred day simple moving average is $34.17.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.9%. The ex-dividend date was Thursday, June 12th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its holdings in John Hancock Financial Opportunities Fund by 1.5% during the 4th quarter. Invesco Ltd. now owns 19,628 shares of the financial services provider's stock valued at $701,000 after acquiring an additional 292 shares in the last quarter. Stephens Inc. AR boosted its position in shares of John Hancock Financial Opportunities Fund by 3.2% in the second quarter. Stephens Inc. AR now owns 12,889 shares of the financial services provider's stock worth $457,000 after acquiring an additional 400 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of John Hancock Financial Opportunities Fund by 4.8% in the second quarter. J.W. Cole Advisors Inc. now owns 10,674 shares of the financial services provider's stock worth $378,000 after acquiring an additional 491 shares during the last quarter. Private Trust Co. NA boosted its position in shares of John Hancock Financial Opportunities Fund by 33.3% in the first quarter. Private Trust Co. NA now owns 2,000 shares of the financial services provider's stock worth $68,000 after acquiring an additional 500 shares during the last quarter. Finally, L.M. Kohn & Company boosted its position in shares of John Hancock Financial Opportunities Fund by 4.5% in the first quarter. L.M. Kohn & Company now owns 12,857 shares of the financial services provider's stock worth $439,000 after acquiring an additional 550 shares during the last quarter. 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.

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