John Hancock Financial Opportunities Fund (NYSE:BTO) Sets New 1-Year High – Here’s What Happened

John Hancock Financial Opportunities Fund (NYSE:BTO) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $41.00 and last traded at $40.3940, with a volume of 51480 shares changing hands. The stock had previously closed at $40.28.

John Hancock Financial Opportunities Fund Stock Down 1.0%

The firm has a 50 day moving average price of $38.08 and a 200-day moving average price of $37.08.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its position 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 worth $3,043,000 after purchasing an additional 302 shares during the last quarter. Redwood Wealth Management Group LLC boosted its holdings in John Hancock Financial Opportunities Fund by 4.5% in the 1st quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 400 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in John Hancock Financial Opportunities Fund by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,951 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 552 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of John Hancock Financial Opportunities Fund by 4.4% in the 1st quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock valued at $541,000 after buying an additional 639 shares during the period. Finally, Private Advisor Group LLC increased its holdings in shares of John Hancock Financial Opportunities Fund by 3.4% during the 1st quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider’s stock worth $859,000 after buying an additional 796 shares during the last quarter. 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.