John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• John Hancock Financial Opportunities Fund's stock price has crossed above its fifty-day moving average of $35.14, reaching a high of $36.17 during trading.
• The fund declared a quarterly dividend of $0.65 per share, providing an annual yield of 7.3% to shareholders.
• Institutional investors hold 19.55% of the company's stock, with notable increases in holdings by several large investors in recent quarters.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report)'s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $35.14 and traded as high as $36.17. John Hancock Financial Opportunities Fund shares last traded at $35.45, with a volume of 45,634 shares.

John Hancock Financial Opportunities Fund Stock Performance

The company's 50-day simple moving average is $35.16 and its 200 day simple moving average is $34.20.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 12th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $2.60 annualized dividend and a dividend yield of 7.3%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of 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 buying an additional 292 shares during the last quarter. Stephens Inc. AR lifted its position in shares of John Hancock Financial Opportunities Fund by 3.2% during the 2nd quarter. Stephens Inc. AR now owns 12,889 shares of the financial services provider's stock valued at $457,000 after buying an additional 400 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position 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 buying an additional 491 shares during the last quarter. Private Trust Co. NA lifted 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 buying an additional 500 shares during the last quarter. Finally, L.M. Kohn & Company lifted its position in shares of John Hancock Financial Opportunities Fund by 4.5% during the 1st quarter. L.M. Kohn & Company now owns 12,857 shares of the financial services provider's stock valued at $439,000 after buying an additional 550 shares during the last quarter. 19.55% of the stock is owned by 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.