John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Passes Above Fifty 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 $34.40 and traded as high as $34.49. John Hancock Financial Opportunities Fund shares last traded at $34.26, with a volume of 12,799 shares traded.

John Hancock Financial Opportunities Fund Price Performance

The company has a 50-day moving average of $34.40 and a 200 day moving average of $35.07.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $2.60 annualized dividend and a dividend yield of 7.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp bought a new position in John Hancock Financial Opportunities Fund during the second quarter valued at $35,000. Blue Trust Inc. purchased a new position in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth about $35,000. Atlantic Union Bankshares Corp bought a new position in John Hancock Financial Opportunities Fund during the 3rd quarter valued at about $36,000. Thompson Investment Management Inc. grew its holdings in John Hancock Financial Opportunities Fund by 149.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 1,616 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 967 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in John Hancock Financial Opportunities Fund in the 3rd quarter worth about $102,000. 19.55% of the stock is owned by hedge funds and other institutional investors.

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.