Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Drops By 65.5%

John Hancock Financial Opportunities Fund (NYSE:BTO) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 3,224 shares, a drop of 65.5% from the May 14th total of 9,354 shares. Based on an average daily trading volume, of 29,424 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

John Hancock Financial Opportunities Fund Price Performance

NYSE BTO opened at $38.00 on Thursday. John Hancock Financial Opportunities Fund has a 52-week low of $32.01 and a 52-week high of $39.85. The business’s 50-day moving average price is $36.81 and its 200 day moving average price is $36.26.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Thursday, June 11th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.8%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of John Hancock Financial Opportunities Fund by 3.0% during the first quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider’s stock worth $1,620,000 after buying an additional 1,311 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of John Hancock Financial Opportunities Fund by 3.3% during the first quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock worth $9,606,000 after buying an additional 8,443 shares during the last quarter. FCA Corp TX grew its holdings in shares of 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 worth $3,192,000 after buying an additional 2,064 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of John Hancock Financial Opportunities Fund by 18.5% during the first quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock worth $302,000 after buying an additional 1,315 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of John Hancock Financial Opportunities Fund during the first quarter worth about $206,000. Hedge funds and other institutional investors 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.