John Hancock Financial Opportunities Fund (NYSE:BTO) Hits New 12-Month High – Time to Buy?

John Hancock Financial Opportunities Fund (NYSE:BTO) reached a new 52-week high on Thursday . The stock traded as high as $40.70 and last traded at $40.60, with a volume of 11006 shares changing hands. The stock had previously closed at $39.76.

John Hancock Financial Opportunities Fund Price Performance

The stock has a 50 day moving average price of $37.64 and a 200-day moving average price of $36.86.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 11th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Trading of John Hancock Financial Opportunities Fund

A number of hedge funds and other institutional investors have recently modified their holdings of BTO. Wolverine Asset Management LLC acquired a new position in John Hancock Financial Opportunities Fund in the fourth quarter valued at approximately $2,671,000. Readystate Asset Management LP purchased a new position in John Hancock Financial Opportunities Fund during the 4th quarter valued at about $2,481,000. Raymond James Financial Inc. grew its holdings in shares of John Hancock Financial Opportunities Fund by 5.3% in the second quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider’s stock valued at $19,793,000 after purchasing an additional 28,231 shares in the last quarter. Wells Fargo & Company MN grew 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 worth $23,405,000 after acquiring an additional 23,822 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in John Hancock Financial Opportunities Fund during the 4th quarter worth $391,000. 19.55% of the stock is owned by institutional investors and hedge funds.

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.