John Hancock Financial Opportunities Fund (NYSE:BTO) Sets New 12-Month High – Should You Buy?

John Hancock Financial Opportunities Fund (NYSE:BTO) hit a new 52-week high on Tuesday . The company traded as high as $38.90 and last traded at $38.71, with a volume of 360 shares trading hands. The stock had previously closed at $38.38.

John Hancock Financial Opportunities Fund Trading Up 1.9%

The company’s fifty day simple moving average is $36.06 and its two-hundred day simple moving average is $35.54.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Thursday, December 11th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend was Thursday, December 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in shares of John Hancock Financial Opportunities Fund in the second quarter worth about $35,000. Atlantic Union Bankshares Corp bought a new stake in shares of John Hancock Financial Opportunities Fund in the third quarter valued at about $36,000. Farther Finance Advisors LLC bought a new position in John Hancock Financial Opportunities Fund during the fourth quarter valued at about $43,000. Thompson Investment Management Inc. raised its holdings in John Hancock Financial Opportunities Fund by 149.0% in the 2nd quarter. Thompson Investment Management Inc. now owns 1,616 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 967 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of John Hancock Financial Opportunities Fund in the 4th quarter worth approximately $57,000. 19.55% of the stock is owned by hedge funds and other institutional investors.

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.