John Hancock Financial Opprts Fund (NYSE:BTO) Given Outperform Rating at Raymond James

Raymond James reiterated their outperform rating on shares of John Hancock Financial Opprts Fund (NYSE:BTO) in a report published on Friday morning, Stock Target Advisor reports. The brokerage currently has a $6.25 target price on the financial services provider’s stock.

Several other equities research analysts have also commented on the company. TD Securities upped their price objective on John Hancock Financial Opprts Fund from $7.00 to $7.50 and gave the stock a buy rating in a research note on Thursday. National Bank Financial reduced their price objective on John Hancock Financial Opprts Fund from $8.00 to $7.50 in a research note on Monday, October 21st.

Shares of NYSE BTO traded down $0.08 during midday trading on Friday, hitting $34.96. 39,300 shares of the stock traded hands, compared to its average volume of 56,795. The firm has a 50-day moving average of $32.55 and a two-hundred day moving average of $32.12. John Hancock Financial Opprts Fund has a one year low of $25.81 and a one year high of $38.20.

Several large investors have recently bought and sold shares of BTO. First Trust Advisors LP increased its stake in shares of John Hancock Financial Opprts Fund by 35.9% in the 1st quarter. First Trust Advisors LP now owns 30,061 shares of the financial services provider’s stock worth $959,000 after purchasing an additional 7,944 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of John Hancock Financial Opprts Fund in the 2nd quarter worth $457,000. FNY Investment Advisers LLC purchased a new stake in shares of John Hancock Financial Opprts Fund in the 2nd quarter worth $129,000. Doliver Advisors LP purchased a new stake in shares of John Hancock Financial Opprts Fund in the 2nd quarter worth $237,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of John Hancock Financial Opprts Fund in the 2nd quarter worth $393,000. Hedge funds and other institutional investors own 20.40% of the company’s stock.

John Hancock Financial Opprts Fund Company Profile

John Hancock Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by John Hancock Advisers, LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets across the globe. It seeks to invest in the stocks of companies operating across the financial services sector.

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