John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $32.15 and traded as high as $32.74. John Hancock Financial Opportunities Fund shares last traded at $32.73, with a volume of 25,219 shares changing hands.

John Hancock Financial Opportunities Fund Price Performance

The firm has a 50 day moving average price of $32.19 and a 200-day moving average price of $29.85.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.60 annualized dividend and a dividend yield of 7.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTO. International Assets Investment Management LLC acquired a new position in John Hancock Financial Opportunities Fund during the second quarter worth approximately $51,000. EverSource Wealth Advisors LLC acquired a new stake in John Hancock Financial Opportunities Fund during the 2nd quarter worth $70,000. Abel Hall LLC purchased a new position in John Hancock Financial Opportunities Fund during the 4th quarter worth $241,000. Wedbush Securities Inc. increased its stake in John Hancock Financial Opportunities Fund by 8.7% in the second quarter. Wedbush Securities Inc. now owns 8,738 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 700 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of John Hancock Financial Opportunities Fund by 17.5% during the first quarter. J.W. Cole Advisors Inc. now owns 8,703 shares of the financial services provider’s stock worth $257,000 after buying an additional 1,295 shares during the period. 19.55% of the stock is owned by institutional investors and hedge funds.

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.