John Hancock Financial Opportunities Fund (NYSE:BTO) Reaches New 12-Month High – What’s Next?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $38.90 and last traded at $38.71, with a volume of 360 shares trading hands. The stock had previously closed at $38.38.

John Hancock Financial Opportunities Fund Stock Performance

The company has a fifty day moving average of $35.87 and a two-hundred day moving average of $35.50.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend was Thursday, December 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of large investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp acquired a new position in John Hancock Financial Opportunities Fund in the third quarter valued at $36,000. Benjamin Edwards Inc. bought a new stake in shares of John Hancock Financial Opportunities Fund in the 3rd quarter valued at $474,000. J.W. Cole Advisors Inc. lifted its position in shares of John Hancock Financial Opportunities Fund by 4.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 10,674 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 491 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in John Hancock Financial Opportunities Fund by 1.6% during the second quarter. Steward Partners Investment Advisory LLC now owns 35,695 shares of the financial services provider’s stock worth $1,264,000 after acquiring an additional 568 shares in the last quarter. Finally, AlphaCore Capital LLC grew its holdings in John Hancock Financial Opportunities Fund by 49.9% in the second quarter. AlphaCore Capital LLC now owns 22,487 shares of the financial services provider’s stock worth $796,000 after purchasing an additional 7,485 shares during the period. Institutional investors and hedge funds own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Company Profile

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.