John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Update

John Hancock Financial Opportunities Fund (NYSE:BTO) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 11,963 shares, an increase of 277.4% from the July 15th total of 3,170 shares. Based on an average daily trading volume, of 51,191 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in John Hancock Financial Opportunities Fund in the fourth quarter valued at $2,671,000. Readystate Asset Management LP acquired a new position in shares of John Hancock Financial Opportunities Fund during the 4th quarter worth about $2,481,000. Raymond James Financial Inc. increased its holdings in shares of John Hancock Financial Opportunities Fund by 5.3% in 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 acquiring an additional 28,231 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of John Hancock Financial Opportunities Fund by 3.7% during the 4th quarter. Wells Fargo & Company MN now owns 667,192 shares of the financial services provider’s stock worth $23,405,000 after acquiring an additional 23,822 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 4th quarter worth about $391,000. Institutional investors and hedge funds own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Stock Up 0.0%

Shares of BTO stock traded up $0.01 during trading hours on Friday, reaching $41.35. 22,683 shares of the stock were exchanged, compared to its average volume of 50,001. The business’s fifty day moving average is $39.39 and its two-hundred day moving average is $37.55. John Hancock Financial Opportunities Fund has a 12-month low of $32.01 and a 12-month high of $42.00.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Thursday, June 11th.

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.