John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Down 48.8% in August

John Hancock Financial Opportunities Fund (NYSE:BTO) was the recipient of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 6,127 shares, a decline of 48.8% from the July 30th total of 11,963 shares. Based on an average daily volume of 40,056 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

John Hancock Financial Opportunities Fund Stock Up 0.1%

BTO traded up $0.05 during trading on Friday, reaching $39.68. The company had a trading volume of 27,426 shares, compared to its average volume of 38,162. The business has a 50 day simple moving average of $39.98 and a 200-day simple moving average of $37.72. 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 announced 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 annualized dividend and a dividend yield of 6.6%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in John Hancock Financial Opportunities Fund during the 4th quarter valued at about $43,000. International Assets Investment Management LLC bought a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth about $57,000. Centaurus Financial Inc. purchased a new position in shares of John Hancock Financial Opportunities Fund during the third quarter valued at approximately $102,000. Fifth Third Bancorp bought a new position in shares of John Hancock Financial Opportunities Fund during the first quarter valued at approximately $206,000. Finally, Creative Planning bought a new position in shares of John Hancock Financial Opportunities Fund during the third quarter valued at approximately $237,000. 19.55% of the stock is owned by hedge funds and other institutional investors.

About John Hancock Financial Opportunities Fund

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.