John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Short Interest Jumps 102.1%

John Hancock Financial Opportunities Fund (NYSE:BTO) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 7,757 shares, an increase of 102.1% from the September 15th total of 3,838 shares. Based on an average trading volume of 43,673 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

John Hancock Financial Opportunities Fund Trading Down 0.9%

Shares of BTO traded down $0.31 during trading hours on Wednesday, hitting $35.88. 10,215 shares of the stock traded hands, compared to its average volume of 47,553. The business has a fifty day moving average of $38.62 and a 200-day moving average of $38.08. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, September 11th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BTO. Bank of America Corp DE grew 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 buying an additional 1,311 shares during the period. Royal Bank of Canada boosted its stake in John Hancock Financial Opportunities Fund by 3.3% in the first quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock valued at $9,606,000 after acquiring an additional 8,443 shares during the last quarter. FCA Corp TX boosted its stake in 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 acquiring an additional 2,064 shares during the last quarter. Cetera Investment Advisers boosted its stake in 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 acquiring an additional 1,315 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in John Hancock Financial Opportunities Fund during the 1st quarter worth $206,000. 19.55% of the stock is currently owned by institutional investors and hedge funds.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund is a publicly traded 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 rather than operating as a traditional financial services company.

The fund seeks a high level of current income and long-term capital appreciation by investing primarily in companies involved in banking, insurance, asset management, financial technology and other financial-related activities.