John Hancock Financial Opportunities Fund (NYSE:BTO) Reaches New 12-Month High – What’s Next?

John Hancock Financial Opportunities Fund (NYSE:BTO) reached a new 52-week high on Wednesday . The company traded as high as $39.86 and last traded at $39.6350, with a volume of 11077 shares trading hands. The stock had previously closed at $39.42.

John Hancock Financial Opportunities Fund Stock Down 0.3%

The company has a fifty day moving average price of $37.21 and a 200-day moving average price of $36.65.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a yield of 6.5%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new position in shares of John Hancock Financial Opportunities Fund in the 1st quarter valued at $206,000. Kestra Advisory Services LLC raised its holdings in John Hancock Financial Opportunities Fund by 4.4% in 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 period. FCA Corp TX boosted its position in John Hancock Financial Opportunities Fund by 2.4% during the first quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock worth $3,192,000 after purchasing an additional 2,064 shares in the last quarter. Private Advisor Group LLC boosted its position in John Hancock Financial Opportunities Fund by 3.4% during the first quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 796 shares in the last quarter. Finally, Redwood Wealth Management Group LLC grew its holdings in John Hancock Financial Opportunities Fund by 4.5% in the first quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 400 shares during the period. 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.