John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

John Hancock Financial Opportunities Fund (NYSE:BTO) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.84 and traded as low as $35.30. John Hancock Financial Opportunities Fund shares last traded at $35.9380, with a volume of 38,028 shares traded.

John Hancock Financial Opportunities Fund Price Performance

The company’s 50 day simple moving average is $35.94 and its 200 day simple moving average is $35.87.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were paid a $0.65 dividend. The ex-dividend date was Thursday, March 12th. This represents a $2.60 annualized dividend and a yield of 7.2%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Several large investors have recently modified their holdings of BTO. Bank of America Corp DE boosted its holdings in John Hancock Financial Opportunities Fund by 3.0% in the 1st quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider’s stock worth $1,620,000 after buying an additional 1,311 shares during the period. Royal Bank of Canada boosted its holdings in John Hancock Financial Opportunities Fund by 3.3% in the 1st quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock valued at $9,606,000 after purchasing an additional 8,443 shares during the period. FCA Corp TX boosted its holdings in John Hancock Financial Opportunities Fund by 2.4% in the 1st quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock valued at $3,192,000 after purchasing an additional 2,064 shares during the period. Cetera Investment Advisers boosted its holdings in John Hancock Financial Opportunities Fund by 18.5% in the 1st 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 during the period. Finally, Fifth Third Bancorp bought a new position in John Hancock Financial Opportunities Fund in the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund (NYSE: BTO) is a closed-end management investment company sponsored by John Hancock Investment Management, a division of Manulife Investment Management. Since its inception in August 2004, the fund has sought to deliver total return through a combination of current income and capital appreciation. As a publicly traded fund, it offers investors access to a diversified portfolio of financial services companies that might otherwise require direct equity investments or specialized mandates.

The fund primarily invests in common stocks, preferred stocks and convertible securities issued by companies in the banking, insurance, brokerage and specialty finance sectors.