John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Cross Above Fifty Day Moving Average - What's Next?

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 - Get Free Report) shares passed 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 traded.

John Hancock Financial Opportunities Fund Price Performance

The firm has a 50 day moving average of $35.86 and a two-hundred day moving average of $34.15.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several large investors have recently modified their holdings of the stock. Stephens Inc. AR lifted its holdings in 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 valued at $457,000 after acquiring an additional 400 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of John Hancock Financial Opportunities Fund by 4.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 10,674 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 491 shares during the period. Private Trust Co. NA increased its position in shares of John Hancock Financial Opportunities Fund by 33.3% during the 1st quarter. Private Trust Co. NA now owns 2,000 shares of the financial services provider's stock valued at $68,000 after purchasing an additional 500 shares during the last quarter. L.M. Kohn & Company lifted its stake in shares of John Hancock Financial Opportunities Fund by 4.5% in the 1st quarter. L.M. Kohn & Company now owns 12,857 shares of the financial services provider's stock worth $439,000 after purchasing an additional 550 shares during the period. Finally, Ameriprise Financial Inc. lifted 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 worth $813,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 19.55% of the company's stock.

About John Hancock Financial Opportunities Fund

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.