John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $37.61 and traded as high as $38.28. John Hancock Financial Opportunities Fund shares last traded at $37.9950, with a volume of 45,568 shares trading hands.

John Hancock Financial Opportunities Fund Price Performance

The business’s 50-day simple moving average is $37.50 and its 200-day simple moving average is $37.63.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, September 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of 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 valued at $1,620,000 after buying an additional 1,311 shares in the last quarter. Royal Bank of Canada increased its holdings 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 worth $9,606,000 after buying an additional 8,443 shares during the last quarter. FCA Corp TX raised its position in John Hancock Financial Opportunities Fund by 2.4% during 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 in the last quarter. Cetera Investment Advisers raised its position in John Hancock Financial Opportunities Fund by 18.5% during 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 in the last quarter. Finally, Fifth Third Bancorp bought a new position in John Hancock Financial Opportunities Fund during the first quarter valued at approximately $206,000. 19.55% of the stock is owned by hedge funds and other institutional investors.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund (NYSE:BTO) is a closed-end investment company that seeks to provide investors with a high level of current income and long-term capital appreciation. The fund focuses primarily on the financial services sector.

Its portfolio may include common stocks, preferred securities and debt investments issued by companies such as banks, insurers, asset managers, brokerages, specialty finance firms and other financial institutions. The fund may also invest across different areas of the financial industry and geographic markets as its investment team identifies opportunities.

John Hancock Financial Opportunities Fund is advised by John Hancock Investment Management, the asset-management business associated with Manulife Investment Management.