John Hancock Financial Opportunities Fund (NYSE:BTO) Reaches New 52-Week High at $31.48

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $31.48 and last traded at $31.46, with a volume of 12196 shares. The stock had previously closed at $31.16.

Wall Street Analyst Weigh In

Separately, Scotiabank raised shares of John Hancock Financial Opportunities Fund to a “strong-buy” rating in a research report on Thursday, May 9th.

John Hancock Financial Opportunities Fund Price Performance

The stock’s 50 day moving average price is $28.11 and its 200 day moving average price is $28.56.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a yield of 8.16%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its stake in John Hancock Financial Opportunities Fund by 7.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 420,783 shares of the financial services provider’s stock worth $12,657,000 after purchasing an additional 30,636 shares during the period. Janney Montgomery Scott LLC grew its position in shares of John Hancock Financial Opportunities Fund by 0.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 210,614 shares of the financial services provider’s stock worth $6,230,000 after buying an additional 1,818 shares during the period. FCA Corp TX grew its position in shares of John Hancock Financial Opportunities Fund by 0.6% during the 4th quarter. FCA Corp TX now owns 91,296 shares of the financial services provider’s stock worth $2,746,000 after buying an additional 507 shares during the period. Aurora Investment Counsel increased its stake in shares of John Hancock Financial Opportunities Fund by 2.4% in the 1st quarter. Aurora Investment Counsel now owns 88,850 shares of the financial services provider’s stock valued at $2,628,000 after acquiring an additional 2,089 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of John Hancock Financial Opportunities Fund during the 4th quarter valued at $2,375,000. 19.55% of the stock is owned by institutional investors.

John Hancock Financial Opportunities Fund Company Profile

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.