John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Strong Trading Volume – Should You Buy?

John Hancock Financial Opportunities Fund (NYSE:BTO) shares saw unusually-strong trading volume on Friday . Approximately 101,797 shares changed hands during trading, an increase of 68% from the previous session’s volume of 60,428 shares.The stock last traded at $37.3350 and had previously closed at $37.37.

John Hancock Financial Opportunities Fund Stock Performance

The firm has a 50 day simple moving average of $35.23 and a 200-day simple moving average of $35.46.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 7.0%. The ex-dividend date was Thursday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth $35,000. Blue Trust Inc. purchased a new position in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth about $35,000. Atlantic Union Bankshares Corp purchased a new position in shares of John Hancock Financial Opportunities Fund in the 3rd quarter worth $36,000. Thompson Investment Management Inc. raised its holdings in shares of John Hancock Financial Opportunities Fund by 149.0% in the 2nd quarter. Thompson Investment Management Inc. now owns 1,616 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 967 shares during the period. Finally, Centaurus Financial Inc. purchased a new stake in John Hancock Financial Opportunities Fund during the third quarter worth approximately $102,000. Hedge funds and other institutional investors 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.