John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Break Below 200 Day Moving Average – Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO) shares passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $37.66 and traded as low as $37.49. John Hancock Financial Opportunities Fund shares last traded at $37.5950, with a volume of 38,271 shares.

John Hancock Financial Opportunities Fund Price Performance

The company has a fifty day simple moving average of $37.28 and a two-hundred day simple moving average of $37.66.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, September 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp purchased a new position in John Hancock Financial Opportunities Fund during the 1st quarter valued at about $206,000. 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 worth $302,000 after acquiring an additional 1,315 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of John Hancock Financial Opportunities Fund by 4.4% in the first quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 639 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of John Hancock Financial Opportunities Fund by 3.0% in the first quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider’s stock valued at $1,620,000 after purchasing an additional 1,311 shares in the last quarter. Finally, FCA Corp TX lifted its holdings 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 purchasing an additional 2,064 shares in the last quarter. 19.55% of the stock is currently owned by hedge funds and other institutional investors.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund is a closed-end investment fund that seeks to provide a high level of current income while also pursuing capital appreciation. It invests primarily in securities issued by companies in the financial services industry. The fund’s portfolio may include banks, insurers, asset managers and other financial companies. Its investments are mainly in U.S. issuers, with the ability to invest in foreign securities as well. John Hancock Investment Management manages the fund.