John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Pass Above 50 Day Moving Average – Here’s Why

John Hancock Financial Opportunities Fund (NYSE:BTO) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $36.32 and traded as high as $37.64. John Hancock Financial Opportunities Fund shares last traded at $36.90, with a volume of 50,778 shares changing hands.

John Hancock Financial Opportunities Fund Stock Performance

The company has a 50-day simple moving average of $36.32 and a 200-day simple moving average of $32.58.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 7.05%. The ex-dividend date is Thursday, December 12th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE purchased a new stake in John Hancock Financial Opportunities Fund during the third quarter worth about $30,000. International Assets Investment Management LLC purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth approximately $51,000. EverSource Wealth Advisors LLC acquired a new stake in shares of John Hancock Financial Opportunities Fund in the 2nd quarter worth approximately $70,000. Wealth Enhancement Advisory Services LLC purchased a new position in John Hancock Financial Opportunities Fund in the 3rd quarter valued at approximately $210,000. Finally, Wedbush Securities Inc. boosted its position in John Hancock Financial Opportunities Fund by 8.7% during the second quarter. Wedbush Securities Inc. now owns 8,738 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 700 shares in the last quarter. 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 is a closed-ended equity mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets across the globe. It seeks to invest in the stocks of companies operating across the financial services sector.