John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Down 84.5% in August

John Hancock Financial Opportunities Fund (NYSE:BTO) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 947 shares, a decline of 84.5% from the August 15th total of 6,127 shares. Based on an average daily volume of 33,538 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of BTO. Bank of America Corp DE boosted its position in shares of John Hancock Financial Opportunities Fund by 3.0% during 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 purchasing an additional 1,311 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of 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 in the last quarter. FCA Corp TX lifted its stake in shares of John Hancock Financial Opportunities Fund by 2.4% in the first 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 lifted its stake in shares of John Hancock Financial Opportunities Fund by 18.5% in the first 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 purchased a new stake in John Hancock Financial Opportunities Fund during the first quarter worth about $206,000. Institutional investors and hedge funds own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Stock Performance

Shares of BTO stock traded down $0.66 during trading hours on Friday, reaching $38.81. 51,564 shares of the company’s stock were exchanged, compared to its average volume of 28,547. The company’s 50 day moving average is $40.11 and its two-hundred day moving average is $37.78. John Hancock Financial Opportunities Fund has a 1 year low of $32.01 and a 1 year high of $42.00.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 11th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, September 11th.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol BTO. The fund is designed to provide investors with exposure to the financial services sector through a professionally managed portfolio of securities.

The fund invests primarily in the equity securities of companies involved in banking, insurance, diversified financial services, capital markets, consumer finance, real estate finance and related activities.