John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Passes Above 50-Day Moving Average – Time to Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $36.84 and traded as high as $37.40. John Hancock Financial Opportunities Fund shares last traded at $36.94, with a volume of 32,742 shares trading hands.

John Hancock Financial Opportunities Fund Trading Up 0.2 %

The stock’s fifty day simple moving average is $36.84 and its two-hundred day simple moving average is $34.25.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date was Thursday, December 12th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE acquired a new position in shares of John Hancock Financial Opportunities Fund in the 3rd quarter worth approximately $30,000. EverSource Wealth Advisors LLC bought a new position in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth approximately $70,000. Wealth Enhancement Advisory Services LLC bought a new stake in John Hancock Financial Opportunities Fund in the 3rd quarter valued at $210,000. L.M. Kohn & Company lifted its holdings in John Hancock Financial Opportunities Fund by 3.5% during the 3rd quarter. L.M. Kohn & Company now owns 12,691 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 425 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in John Hancock Financial Opportunities Fund by 7.8% during the third quarter. Private Advisor Group LLC now owns 13,978 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 1,015 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 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.