John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• BTO shares fell below their 200-day moving average of $37.82, reaching a low of $37.02 before last trading at $37.3650 on volume of 38,101 shares.
• The fund announced a quarterly dividend of $0.65 per share, equivalent to $2.60 annually and a 7.0% yield. The dividend is payable September 30 to shareholders of record September 11.
• Institutional investors own 19.55% of the fund, with several firms—including Cetera Investment Advisers and Stephens—recently increasing their positions.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $37.82 and traded as low as $37.02. John Hancock Financial Opportunities Fund shares last traded at $37.3650, with a volume of 38,101 shares.

John Hancock Financial Opportunities Fund Stock Up 0.2%

The business has a 50 day simple moving average of $39.98 and a 200-day simple moving average of $37.82.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, September 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Several large investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in John Hancock Financial Opportunities Fund in the 1st quarter valued at $206,000. Cetera Investment Advisers lifted its holdings in shares of John Hancock Financial Opportunities Fund by 18.5% in the first quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 1,315 shares in the last quarter. Redwood Wealth Management Group LLC boosted its position in shares of John Hancock Financial Opportunities Fund by 4.5% during the first 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 period. Stephens Inc. AR grew its holdings in shares of John Hancock Financial Opportunities Fund by 12.3% during the fourth quarter. Stephens Inc. AR now owns 14,105 shares of the financial services provider's stock worth $495,000 after buying an additional 1,541 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its position in John Hancock Financial Opportunities Fund by 4.4% in 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 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 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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