Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Decreases By 42.9%

Key Points

• Short interest in John Hancock Financial Opportunities Fund (NYSE:BTO) decreased by 42.9% in September, dropping from 17,500 shares to 10,000 shares.
• The fund recently announced a quarterly dividend of $0.65, resulting in an annualized dividend yield of 7.5%.
• Institutional investors have shown increased interest, with Oppenheimer & Co. Inc. expanding its position by 24.8% during the first quarter.

John Hancock Financial Opportunities Fund (NYSE:BTO - ) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 10,000 shares, a decline of 42.9% from the September 15th total of 17,500 shares. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 32,800 shares, the days-to-cover ratio is presently 0.3 days.

John Hancock Financial Opportunities Fund Price Performance

Shares of BTO stock traded up $0.17 during mid-day trading on Tuesday, reaching $34.50. The stock had a trading volume of 8,115 shares, compared to its average volume of 41,627. The stock's 50-day moving average price is $36.20 and its two-hundred day moving average price is $34.61. John Hancock Financial Opportunities Fund has a 52-week low of $27.73 and a 52-week high of $39.87.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were given a $0.65 dividend. The ex-dividend date was Friday, September 12th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.5%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several hedge funds and other institutional investors have recently modified their holdings of BTO. Oppenheimer & Co. Inc. increased its position in shares of John Hancock Financial Opportunities Fund by 24.8% during the first quarter. Oppenheimer & Co. Inc. now owns 28,528 shares of the financial services provider's stock valued at $973,000 after buying an additional 5,672 shares during the period. Jaffetilchin Investment Partners LLC purchased a new position in shares of John Hancock Financial Opportunities Fund during the first quarter valued at about $815,000. Private Trust Co. NA increased its position in shares of 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 valued at $68,000 after buying an additional 500 shares during the period. Gilliland Jeter Wealth Management LLC increased its position in shares of John Hancock Financial Opportunities Fund by 5.4% during the first quarter. Gilliland Jeter Wealth Management LLC now owns 36,121 shares of the financial services provider's stock valued at $1,232,000 after buying an additional 1,845 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of John Hancock Financial Opportunities Fund by 26.4% during the first quarter. Private Advisor Group LLC now owns 19,521 shares of the financial services provider's stock valued at $666,000 after buying an additional 4,076 shares during the period. Hedge funds and other institutional investors own 19.55% of the company's stock.

About John Hancock Financial Opportunities Fund

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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