John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Down 48.8% in August

Key Points

• Short interest fell 48.8% in August to 6,127 shares, representing approximately 0.0% of outstanding shares and only 0.2 days of average trading volume to cover.
• BTO shares recently traded at $39.68, near their 50-day average of $39.98, with a 52-week range of $32.01 to $42.00.
• The fund pays a quarterly dividend of $0.65 per share, or $2.60 annualized, for a stated yield of 6.6%; institutional investors own 19.55% of the shares.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 6,127 shares, a drop of 48.8% from the July 30th total of 11,963 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 40,056 shares, the short-interest ratio is currently 0.2 days.

John Hancock Financial Opportunities Fund Stock Up 0.1%

Shares of BTO traded up $0.05 during trading hours on Friday, reaching $39.68. 27,426 shares of the stock traded hands, compared to its average volume of 38,162. The company's 50-day moving average price is $39.98 and its two-hundred day moving average price is $37.72. John Hancock Financial Opportunities Fund has a 52-week low of $32.01 and a 52-week high of $42.00.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Thursday, June 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Hedge funds have recently made changes to their positions in the business. Stifel Financial Corp lifted its position in John Hancock Financial Opportunities Fund by 0.3% during the fourth quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider's stock valued at $3,043,000 after purchasing an additional 302 shares during the last quarter. Redwood Wealth Management Group LLC increased its holdings in shares of John Hancock Financial Opportunities Fund by 4.5% in the 1st quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider's stock worth $331,000 after buying an additional 400 shares during the last quarter. Ameriprise Financial Inc. increased its holdings 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 buying an additional 552 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of John Hancock Financial Opportunities Fund by 4.4% during the 1st quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider's stock valued at $541,000 after buying an additional 639 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of John Hancock Financial Opportunities Fund by 3.4% in the 1st quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider's stock valued at $859,000 after acquiring an additional 796 shares during the last quarter. Institutional investors own 19.55% of the company's stock.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund NYSE: BTO is a closed-end management investment company sponsored by John Hancock Investment Management, a division of Manulife Investment Management. Since its inception in August 2004, the fund has sought to deliver total return through a combination of current income and capital appreciation. As a publicly traded fund, it offers investors access to a diversified portfolio of financial services companies that might otherwise require direct equity investments or specialized mandates.

The fund primarily invests in common stocks, preferred stocks and convertible securities issued by companies in the banking, insurance, brokerage and specialty finance sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source