John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Passes Above 50-Day Moving Average – What’s Next?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $39.69 and traded as high as $40.43. John Hancock Financial Opportunities Fund shares last traded at $39.78, with a volume of 28,455 shares changing hands.

John Hancock Financial Opportunities Fund Stock Up 0.5%

The company has a 50 day moving average price of $39.73 and a 200-day moving average price of $37.69.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Thursday, June 11th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Thursday, June 11th.

Institutional Trading of John Hancock Financial Opportunities Fund

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

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.