John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Short Interest Climbs 305.3%

Key Points

• Short interest surged 305.3% to 3,838 shares as of September 15, up from 947 shares at the end of August. Despite the increase, only 0.0% of shares were short and the days-to-cover ratio was 0.1.
• BTO shares rose 0.6% to $36.71, below their 50-day moving average of $39.75 but above their 200-day average of $37.87; the stock’s 52-week range is $32.01 to $42.00.
• The fund declared a quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a 7.1% yield. Institutional investors own 19.55% of the fund.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 3,838 shares, a growth of 305.3% from the August 31st total of 947 shares. Based on an average trading volume of 33,873 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

John Hancock Financial Opportunities Fund Trading Up 0.6%

Shares of NYSE:BTO traded up $0.23 during trading on Friday, reaching $36.71. The company had a trading volume of 18,852 shares, compared to its average volume of 47,420. The stock's fifty day moving average price is $39.75 and its 200 day moving average price is $37.87. John Hancock Financial Opportunities Fund has a fifty-two week low of $32.01 and a fifty-two week high of $42.00.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, September 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

A number of large investors have recently bought and sold shares of BTO. Redwood Wealth Management Group LLC lifted its stake in shares of John Hancock Financial Opportunities Fund by 4.5% during the 1st quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider's stock worth $331,000 after purchasing an additional 400 shares during the period. Kestra Advisory Services LLC grew its position in shares of John Hancock Financial Opportunities Fund by 4.4% in the first quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider's stock valued at $541,000 after purchasing an additional 639 shares during the period. Private Advisor Group LLC grew its position in shares of John Hancock Financial Opportunities Fund by 3.4% in the first quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider's stock valued at $859,000 after purchasing an additional 796 shares during the period. Bank of America Corp DE increased its stake in John Hancock Financial Opportunities Fund by 3.0% in the first quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider's stock valued at $1,620,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in John Hancock Financial Opportunities Fund by 18.5% during the first quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider's stock worth $302,000 after buying an additional 1,315 shares during the period. Hedge funds and other institutional investors own 19.55% of the company's stock.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol BTO. The fund is designed to provide investors with exposure to the financial services sector through a professionally managed portfolio of securities.

The fund invests primarily in the equity securities of companies involved in banking, insurance, diversified financial services, capital markets, consumer finance, real estate finance and related activities.

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