John Hancock Financial Opportunities Fund (NYSE:BTO) Hits New 1-Year High – Here’s Why

John Hancock Financial Opportunities Fund (NYSE:BTO) hit a new 52-week high on Tuesday . The stock traded as high as $38.90 and last traded at $38.71, with a volume of 360 shares changing hands. The stock had previously closed at $38.38.

John Hancock Financial Opportunities Fund Stock Performance

The business has a 50 day moving average of $35.87 and a two-hundred day moving average of $35.50.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 11th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, December 11th. This represents a $2.60 annualized dividend and a yield of 6.7%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Raymond James Financial Inc. lifted its position in shares of John Hancock Financial Opportunities Fund by 5.3% during the 2nd quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider’s stock worth $19,793,000 after buying an additional 28,231 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 4th quarter worth approximately $2,671,000. Bank of America Corp DE raised its stake in shares of John Hancock Financial Opportunities Fund by 19.3% in the third quarter. Bank of America Corp DE now owns 49,343 shares of the financial services provider’s stock valued at $1,775,000 after buying an additional 7,998 shares during the period. Gilliland Jeter Wealth Management LLC lifted its position in shares of John Hancock Financial Opportunities Fund by 2.1% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 36,882 shares of the financial services provider’s stock valued at $1,306,000 after buying an additional 761 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of John Hancock Financial Opportunities Fund by 1.6% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 35,695 shares of the financial services provider’s stock worth $1,264,000 after acquiring an additional 568 shares during the period. 19.55% of the stock is owned by institutional investors.

About John Hancock Financial Opportunities Fund

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.