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

John Hancock Financial Opportunities Fund (NYSE:BTO) shares reached a new 52-week high on Wednesday . The stock traded as high as $41.00 and last traded at $40.3940, with a volume of 51480 shares changing hands. The stock had previously closed at $40.28.

John Hancock Financial Opportunities Fund Trading Up 0.3%

The business’s fifty day moving average is $37.92 and its 200-day moving average is $37.01.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Several large investors have recently modified their holdings of BTO. Bank of America Corp DE lifted its stake in John Hancock Financial Opportunities Fund by 3.0% in the first quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider’s stock valued at $1,620,000 after purchasing an additional 1,311 shares during the last quarter. Royal Bank of Canada increased its position in John Hancock Financial Opportunities Fund by 3.3% in the first quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock worth $9,606,000 after buying an additional 8,443 shares during the last quarter. FCA Corp TX increased its position in John Hancock Financial Opportunities Fund by 2.4% in the first quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock worth $3,192,000 after buying an additional 2,064 shares during the last quarter. Cetera Investment Advisers increased its position in John Hancock Financial Opportunities Fund by 18.5% in the first quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock worth $302,000 after buying an additional 1,315 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of John Hancock Financial Opportunities Fund in the first quarter valued at $206,000. Hedge funds and other institutional investors own 19.55% of the company’s stock.

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.