John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Above 50-Day Moving Average – Time to Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $32.69 and traded as high as $34.29. John Hancock Financial Opportunities Fund shares last traded at $34.21, with a volume of 34,467 shares trading hands.

John Hancock Financial Opportunities Fund Stock Performance

The company’s 50 day moving average price is $32.82 and its two-hundred day moving average price is $30.16.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 7.70%. The ex-dividend date was Friday, September 13th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

A number of large investors have recently bought and sold shares of BTO. Commonwealth Equity Services LLC raised its stake in John Hancock Financial Opportunities Fund by 27.8% in the first quarter. Commonwealth Equity Services LLC now owns 18,749 shares of the financial services provider’s stock worth $555,000 after buying an additional 4,079 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in John Hancock Financial Opportunities Fund by 17.5% in the first quarter. J.W. Cole Advisors Inc. now owns 8,703 shares of the financial services provider’s stock worth $257,000 after buying an additional 1,295 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in John Hancock Financial Opportunities Fund by 0.9% in the first quarter. Janney Montgomery Scott LLC now owns 210,614 shares of the financial services provider’s stock worth $6,230,000 after buying an additional 1,818 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in John Hancock Financial Opportunities Fund by 3.3% in the first quarter. Oppenheimer & Co. Inc. now owns 26,337 shares of the financial services provider’s stock worth $779,000 after buying an additional 831 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in John Hancock Financial Opportunities Fund by 21.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 16,645 shares of the financial services provider’s stock worth $492,000 after buying an additional 2,967 shares in the last quarter. Institutional investors own 19.55% of the company’s stock.

About John Hancock Financial Opportunities Fund

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.