John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Pass Below 200 Day Moving Average – Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.84 and traded as low as $35.30. John Hancock Financial Opportunities Fund shares last traded at $35.9380, with a volume of 38,028 shares trading hands.

John Hancock Financial Opportunities Fund Price Performance

The company has a 50 day moving average price of $35.88 and a 200 day moving average price of $35.84.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 12th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 12th. This represents a $2.60 dividend on an annualized basis and a yield of 7.2%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

A number of hedge funds have recently added to or reduced their stakes in BTO. Raymond James Financial Inc. boosted its stake in John Hancock Financial Opportunities Fund by 5.3% during 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 purchasing an additional 28,231 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in John Hancock Financial Opportunities Fund by 2.5% during 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. Bank of America Corp DE boosted its stake in John Hancock Financial Opportunities Fund by 24.9% during 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 purchasing an additional 8,240 shares during the last quarter. Osaic Holdings Inc. boosted its stake in John Hancock Financial Opportunities Fund by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 17,188 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 4,839 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in John Hancock Financial Opportunities Fund during the 3rd quarter valued at about $36,000. 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.