John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $39.30 and traded as high as $41.26. John Hancock Financial Opportunities Fund shares last traded at $41.05, with a volume of 33,780 shares traded.

John Hancock Financial Opportunities Fund Stock Performance

The business’s 50-day moving average is $39.30 and its 200-day moving average is $37.52.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several large investors have recently made changes to their positions in BTO. Wells Fargo & Company MN boosted its position in shares of John Hancock Financial Opportunities Fund by 3.7% in the 4th quarter. Wells Fargo & Company MN now owns 667,192 shares of the financial services provider’s stock worth $23,405,000 after purchasing an additional 23,822 shares in the last quarter. Raymond James Financial Inc. increased its position in John Hancock Financial Opportunities Fund by 5.3% during the 2nd quarter. Raymond James Financial Inc. now owns 558,810 shares of the financial services provider’s stock valued at $19,793,000 after buying an additional 28,231 shares in the last quarter. Royal Bank of Canada increased its position in John Hancock Financial Opportunities Fund by 3.3% during the 1st quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock valued at $9,606,000 after buying an additional 8,443 shares in the last quarter. FCA Corp TX raised its stake 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 valued at $3,192,000 after buying an additional 2,064 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in John Hancock Financial Opportunities Fund by 0.3% during the fourth quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider’s stock valued at $3,043,000 after buying an additional 302 shares during the last quarter. 19.55% of the stock is currently 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.