John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Significant Growth in Short Interest

Key Points

• Short interest in the John Hancock Financial Opportunities Fund (NYSE:BTO) has surged by 41.9%, rising from 21,700 to 30,800 shares as of July 31st.
• Institutional investors have shown increased interest, with firms like Oppenheimer & Co. Inc. and Private Trust Co. NA significantly raising their positions in the fund during the first quarter.
• The fund recently declared a quarterly dividend of $0.65 per share, resulting in an annualized dividend yield of 7.3%.

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 30,800 shares, agrowthof41.9% from the July 15th total of 21,700 shares. Based on an average daily volume of 34,600 shares, the days-to-cover ratio is currently 0.9 days. Approximately0.2% of the company's shares are short sold. Approximately0.2% of the company's shares are short sold. Based on an average daily volume of 34,600 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of John Hancock Financial Opportunities Fund in the 2nd quarter valued at $35,000. Blue Trust Inc. acquired a new position in John Hancock Financial Opportunities Fund during the 2nd quarter worth $35,000. Thompson Investment Management Inc. grew its stake in John Hancock Financial Opportunities Fund by 149.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 1,616 shares of the financial services provider's stock worth $57,000 after purchasing an additional 967 shares in the last quarter. Private Trust Co. NA grew its stake in 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 worth $68,000 after purchasing an additional 500 shares in the last quarter. Finally, Allworth Financial LP grew its stake in John Hancock Financial Opportunities Fund by 32.5% during the 2nd quarter. Allworth Financial LP now owns 4,493 shares of the financial services provider's stock worth $159,000 after purchasing an additional 1,102 shares in the last quarter. Hedge funds and other institutional investors own 19.55% of the company's stock.

John Hancock Financial Opportunities Fund Price Performance

Shares of BTO stock traded up $0.7150 on Friday, hitting $36.5250. The stock had a trading volume of 37,605 shares, compared to its average volume of 36,187. John Hancock Financial Opportunities Fund has a 1 year low of $27.73 and a 1 year high of $39.87. The company's 50 day moving average price is $35.26 and its 200-day moving average price is $34.13.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 12th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Thursday, June 12th.

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.