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

John Hancock Financial Opportunities Fund (NYSE:BTO) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $36.30 and traded as high as $36.45. John Hancock Financial Opportunities Fund shares last traded at $35.98, with a volume of 30,161 shares traded.

John Hancock Financial Opportunities Fund Stock Performance

The stock has a 50 day moving average of $36.30 and a 200 day moving average of $35.17.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, December 12th. This represents a $2.60 dividend on an annualized basis and a yield of 7.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTO. Raymond James Financial Inc. acquired a new position in John Hancock Financial Opportunities Fund during the 4th quarter worth $18,745,000. Cornerstone Advisors LLC boosted its position in John Hancock Financial Opportunities Fund by 132.9% during the 3rd quarter. Cornerstone Advisors LLC now owns 226,737 shares of the financial services provider’s stock worth $7,519,000 after acquiring an additional 129,371 shares during the period. LPL Financial LLC boosted its position in John Hancock Financial Opportunities Fund by 66.8% during the 4th quarter. LPL Financial LLC now owns 185,773 shares of the financial services provider’s stock worth $6,630,000 after acquiring an additional 74,403 shares during the period. International Assets Investment Management LLC boosted its position in John Hancock Financial Opportunities Fund by 3,216.0% during the 3rd quarter. International Assets Investment Management LLC now owns 60,517 shares of the financial services provider’s stock worth $1,825,000 after acquiring an additional 58,692 shares during the period. Finally, Stephens Inc. AR boosted its position in John Hancock Financial Opportunities Fund by 288.4% during the 3rd quarter. Stephens Inc. AR now owns 44,757 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 33,233 shares during the period. Institutional investors and hedge funds 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.