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

John Hancock Financial Opportunities Fund (NYSE:BTO) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $35.76 and traded as high as $37.86. John Hancock Financial Opportunities Fund shares last traded at $37.68, with a volume of 44,558 shares changing hands.

John Hancock Financial Opportunities Fund Stock Up 1.4%

The company has a fifty day moving average price of $35.76 and a two-hundred day moving average price of $35.49.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.9%. The ex-dividend date was Thursday, December 11th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. increased its stake 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. Tennessee Valley Asset Management Partners acquired a new position in John Hancock Financial Opportunities Fund during the third quarter valued at approximately $744,000. Benjamin Edwards Inc. bought a new stake in John Hancock Financial Opportunities Fund in the third quarter valued at approximately $474,000. Shaker Financial Services LLC acquired a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $371,000. Finally, Bank of America Corp DE grew its holdings in shares of John Hancock Financial Opportunities Fund by 24.9% in the 2nd quarter. Bank of America Corp DE now owns 41,345 shares of the financial services provider’s stock valued at $1,464,000 after buying an additional 8,240 shares during the period. Institutional investors and hedge funds own 19.55% of the company’s stock.

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.