John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $38.80 and traded as high as $41.53. John Hancock Financial Opportunities Fund shares last traded at $41.1690, with a volume of 45,309 shares changing hands.

John Hancock Financial Opportunities Fund Trading Up 1.0%

The business has a fifty day moving average price of $38.80 and a 200 day moving average price of $37.35.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a yield of 6.3%.

Institutional Trading of John Hancock Financial Opportunities Fund

A number of hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in John Hancock Financial Opportunities Fund by 3.0% in 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 during the last quarter. Royal Bank of Canada raised its position in shares of John Hancock Financial Opportunities Fund by 3.3% during 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 buying an additional 8,443 shares during 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 buying 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 buying an additional 1,315 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in John Hancock Financial Opportunities Fund during the first quarter worth about $206,000. 19.55% of the stock is owned by institutional investors.

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.