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John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Cross Above 50-Day Moving Average - Here's Why

John Hancock Financial Opportunities Fund logo with Finance background

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $32.69 and traded as high as $34.29. John Hancock Financial Opportunities Fund shares last traded at $34.21, with a volume of 34,467 shares traded.

John Hancock Financial Opportunities Fund Stock Performance

The company's 50-day simple moving average is $32.76 and its 200-day simple moving average is $30.14.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date was Friday, September 13th.

Institutional Trading of John Hancock Financial Opportunities Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in shares of John Hancock Financial Opportunities Fund by 27.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 18,749 shares of the financial services provider's stock valued at $555,000 after purchasing an additional 4,079 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of John Hancock Financial Opportunities Fund by 17.5% during the first quarter. J.W. Cole Advisors Inc. now owns 8,703 shares of the financial services provider's stock worth $257,000 after purchasing an additional 1,295 shares during the period. Janney Montgomery Scott LLC grew its position in John Hancock Financial Opportunities Fund by 0.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 210,614 shares of the financial services provider's stock valued at $6,230,000 after buying an additional 1,818 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in John Hancock Financial Opportunities Fund by 3.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 26,337 shares of the financial services provider's stock valued at $779,000 after buying an additional 831 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its position in John Hancock Financial Opportunities Fund by 21.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,645 shares of the financial services provider's stock worth $492,000 after buying an additional 2,967 shares during the last quarter. 19.55% of the stock is owned by hedge funds and other institutional investors.

John Hancock Financial Opportunities Fund Company Profile

(Get Free Report)

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.

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