John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

John Hancock Financial Opportunities Fund (NYSE:BTOGet Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $39.69 and traded as high as $40.43. John Hancock Financial Opportunities Fund shares last traded at $39.78, with a volume of 28,455 shares trading hands.

John Hancock Financial Opportunities Fund Stock Up 0.1%

The stock has a 50 day simple moving average of $39.69 and a 200-day simple moving average of $37.67.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 11th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.5%. The ex-dividend date was Thursday, June 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several institutional investors have recently bought and sold shares of BTO. Farther Finance Advisors LLC bought a new stake in shares of John Hancock Financial Opportunities Fund in the 4th quarter worth about $43,000. International Assets Investment Management LLC purchased a new stake in John Hancock Financial Opportunities Fund during the fourth quarter valued at approximately $57,000. Centaurus Financial Inc. bought a new stake in shares of John Hancock Financial Opportunities Fund in the 3rd quarter valued at approximately $102,000. Fifth Third Bancorp purchased a new position in shares of John Hancock Financial Opportunities Fund in the 1st quarter worth approximately $206,000. Finally, Creative Planning purchased a new position in shares of John Hancock Financial Opportunities Fund in the 3rd quarter worth approximately $237,000. Institutional investors own 19.55% of the company’s stock.

About John Hancock Financial Opportunities Fund

(Get Free Report)

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.

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