John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Above 50-Day Moving Average – Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $37.01 and traded as high as $37.54. John Hancock Financial Opportunities Fund shares last traded at $37.51, with a volume of 22,648 shares trading hands.

John Hancock Financial Opportunities Fund Stock Performance

The stock has a 50-day simple moving average of $37.01 and a two-hundred day simple moving average of $35.88.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 11th were given a $0.65 dividend. The ex-dividend date was Thursday, December 11th. This represents a $2.60 dividend on an annualized basis and a yield of 6.9%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BTO. Atlantic Union Bankshares Corp bought a new stake in shares of John Hancock Financial Opportunities Fund in the 3rd quarter worth approximately $36,000. Farther Finance Advisors LLC purchased a new position in John Hancock Financial Opportunities Fund in the 4th quarter worth $43,000. International Assets Investment Management LLC bought a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $57,000. Centaurus Financial Inc. bought a new stake in John Hancock Financial Opportunities Fund in the third quarter worth $102,000. Finally, Allworth Financial LP boosted its position in John Hancock Financial Opportunities Fund by 32.5% during the second quarter. Allworth Financial LP now owns 4,493 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,102 shares during the period. 19.55% of the stock is currently owned by 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.