John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Down 65.5% in May

John Hancock Financial Opportunities Fund (NYSE:BTO) was the recipient of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 3,224 shares, a drop of 65.5% from the May 14th total of 9,354 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 29,424 shares, the short-interest ratio is presently 0.1 days.

John Hancock Financial Opportunities Fund Stock Performance

Shares of NYSE:BTO opened at $38.00 on Thursday. John Hancock Financial Opportunities Fund has a 52 week low of $32.01 and a 52 week high of $39.85. The company has a 50-day moving average price of $36.81 and a 200 day moving average price of $36.26.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be given a $0.65 dividend. The ex-dividend date is Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a yield of 6.8%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new stake in John Hancock Financial Opportunities Fund in the fourth quarter valued at about $43,000. International Assets Investment Management LLC acquired a new stake in John Hancock Financial Opportunities Fund in the fourth quarter valued at about $57,000. Centaurus Financial Inc. acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 3rd quarter valued at approximately $102,000. Fifth Third Bancorp acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 1st quarter valued at approximately $206,000. Finally, Creative Planning acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 3rd quarter valued at approximately $237,000. Institutional investors and hedge funds own 19.55% of the company’s stock.

About John Hancock Financial Opportunities Fund

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.