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

Key Points

• Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) have surpassed their fifty-day moving average of $36.19, trading as high as $37.96 and closing at $37.84.
• The fund recently declared a quarterly dividend of $0.65 per share, with an annualized yield of 6.9%, set to be paid on September 30th.
• Institutional investors own 19.55% of the stock, with significant recent increases in stakes from firms such as Stephens Inc. AR and Ameriprise Financial Inc.

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO - ) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $36.19 and traded as high as $37.96. John Hancock Financial Opportunities Fund shares last traded at $37.84, with a volume of 27,830 shares trading hands.

John Hancock Financial Opportunities Fund Price Performance

The company's 50 day moving average is $36.19 and its 200 day moving average is $34.22.

John Hancock Financial Opportunities Fund Announces Dividend

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

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of large investors have recently bought and sold shares of the company. Stephens Inc. AR grew its stake in John Hancock Financial Opportunities Fund by 3.2% during the second quarter. Stephens Inc. AR now owns 12,889 shares of the financial services provider's stock worth $457,000 after buying an additional 400 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in John Hancock Financial Opportunities Fund by 4.8% during the second quarter. J.W. Cole Advisors Inc. now owns 10,674 shares of the financial services provider's stock worth $378,000 after buying an additional 491 shares in the last quarter. Private Trust Co. NA grew its stake in John Hancock Financial Opportunities Fund by 33.3% during the first quarter. Private Trust Co. NA now owns 2,000 shares of the financial services provider's stock worth $68,000 after buying an additional 500 shares in the last quarter. L.M. Kohn & Company grew its stake in John Hancock Financial Opportunities Fund by 4.5% during the first quarter. L.M. Kohn & Company now owns 12,857 shares of the financial services provider's stock worth $439,000 after buying an additional 550 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in John Hancock Financial Opportunities Fund by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 22,951 shares of the financial services provider's stock worth $813,000 after buying an additional 552 shares in the last quarter. 19.55% of the stock is currently owned by institutional investors and hedge funds.

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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