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

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $34.40 and traded as high as $34.49. John Hancock Financial Opportunities Fund shares last traded at $34.26, with a volume of 12,799 shares traded.

John Hancock Financial Opportunities Fund Stock Performance

The stock’s 50 day moving average is $34.40 and its two-hundred day moving average is $35.07.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Friday, September 12th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several large investors have recently bought and sold shares of BTO. Raymond James Financial Inc. raised its stake in John Hancock Financial Opportunities Fund by 5.3% in the second 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. LPL Financial LLC increased its holdings in shares of John Hancock Financial Opportunities Fund by 13.2% in the 1st quarter. LPL Financial LLC now owns 210,292 shares of the financial services provider’s stock valued at $7,173,000 after acquiring an additional 24,519 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 3rd quarter worth about $744,000. AlphaCore Capital LLC purchased a new stake in John Hancock Financial Opportunities Fund during the first quarter worth approximately $512,000. Finally, Benjamin Edwards Inc. acquired a new position in John Hancock Financial Opportunities Fund in the third quarter valued at approximately $474,000. Hedge funds and other institutional investors own 19.55% of the company’s stock.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets across the globe. It seeks to invest in the stocks of companies operating across the financial services sector.