John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

John Hancock Financial Opportunities Fund (NYSE:BTO) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.73 and traded as high as $38.00. John Hancock Financial Opportunities Fund shares last traded at $37.7690, with a volume of 61,740 shares changing hands.

John Hancock Financial Opportunities Fund Trading Up 1.3%

The firm’s fifty day moving average is $36.73 and its two-hundred day moving average is $36.22.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, June 11th.

Institutional Trading of John Hancock Financial Opportunities Fund

A number of institutional investors and hedge funds have recently modified their holdings of BTO. Creative Planning purchased a new position in John Hancock Financial Opportunities Fund in the third quarter worth $237,000. Centaurus Financial Inc. purchased a new stake in shares of John Hancock Financial Opportunities Fund during the 3rd quarter valued at $102,000. Cetera Investment Advisers increased its position 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 valued at $302,000 after purchasing an additional 1,315 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of John Hancock Financial Opportunities Fund during the 1st quarter worth $206,000. Finally, Kestra Advisory Services LLC raised 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 period. 19.55% of the stock is owned by hedge funds and other institutional investors.

John Hancock Financial Opportunities Fund Company Profile

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.