John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Break Below 200 Day Moving Average – Should You Sell?

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $37.66 and traded as low as $37.49. John Hancock Financial Opportunities Fund shares last traded at $37.5950, with a volume of 38,271 shares trading hands.

John Hancock Financial Opportunities Fund Stock Down 0.5%

The business has a 50 day moving average of $37.28 and a 200-day moving average of $37.66.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Trading of John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in John Hancock Financial Opportunities Fund by 3.3% in the 1st quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock valued at $9,606,000 after purchasing an additional 8,443 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of John Hancock Financial Opportunities Fund by 3.0% during the 1st quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider’s stock worth $1,620,000 after purchasing an additional 1,311 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of John Hancock Financial Opportunities Fund by 18.5% during the 1st quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 1,315 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 1st quarter worth about $206,000. Finally, Kestra Advisory Services LLC boosted its stake in shares of John Hancock Financial Opportunities Fund by 4.4% during the 1st quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock worth $541,000 after purchasing an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Company Profile

John Hancock Financial Opportunities Fund is a closed-end investment fund that seeks to provide a high level of current income while also pursuing capital appreciation. It invests primarily in securities issued by companies in the financial services industry. The fund’s portfolio may include banks, insurers, asset managers and other financial companies. Its investments are mainly in U.S. issuers, with the ability to invest in foreign securities as well. John Hancock Investment Management manages the fund.