Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Grows By 277.4%

John Hancock Financial Opportunities Fund (NYSE:BTO) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 11,963 shares, a growth of 277.4% from the July 15th total of 3,170 shares. Based on an average daily volume of 51,191 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

John Hancock Financial Opportunities Fund Price Performance

Shares of NYSE BTO opened at $41.35 on Friday. The business’s 50 day moving average is $39.47 and its two-hundred day moving average is $37.58. John Hancock Financial Opportunities Fund has a 52-week low of $32.01 and a 52-week high of $42.00.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new position in John Hancock Financial Opportunities Fund in the 4th quarter valued at about $2,671,000. Readystate Asset Management LP acquired a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter worth about $2,481,000. Raymond James Financial Inc. lifted its position in shares of John Hancock Financial Opportunities Fund by 5.3% during the second quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider’s stock worth $19,793,000 after purchasing an additional 28,231 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of John Hancock Financial Opportunities Fund by 3.7% in the fourth quarter. Wells Fargo & Company MN now owns 667,192 shares of the financial services provider’s stock valued at $23,405,000 after purchasing an additional 23,822 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of John Hancock Financial Opportunities Fund in the fourth quarter valued at approximately $391,000. 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.