John Hancock Financial Opportunities Fund (NYSE:BTO) Hits New 52-Week High – Should You Buy?

John Hancock Financial Opportunities Fund (NYSE:BTO) shares reached a new 52-week high on Wednesday . The company traded as high as $41.00 and last traded at $40.3940, with a volume of 51480 shares changing hands. The stock had previously closed at $40.28.

John Hancock Financial Opportunities Fund Trading Up 0.3%

The firm’s fifty day moving average is $37.92 and its two-hundred day moving average is $37.01.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.60 annualized dividend and a dividend yield of 6.4%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter valued at approximately $43,000. International Assets Investment Management LLC purchased a new position in John Hancock Financial Opportunities Fund in the fourth quarter worth $57,000. Centaurus Financial Inc. purchased a new position in John Hancock Financial Opportunities Fund in the third quarter worth $102,000. Fifth Third Bancorp bought a new position in John Hancock Financial Opportunities Fund in the 1st quarter valued at $206,000. Finally, Creative Planning bought a new position in John Hancock Financial Opportunities Fund in the 3rd quarter valued at $237,000. 19.55% of the stock is owned by institutional investors.

About John Hancock Financial Opportunities Fund

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.