John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Significant Decline in Short Interest

John Hancock Financial Opportunities Fund (NYSE:BTO) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 32,500 shares, a decline of 7.4% from the January 15th total of 35,100 shares. Based on an average trading volume of 48,900 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE bought a new stake in John Hancock Financial Opportunities Fund in the 3rd quarter worth approximately $30,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of John Hancock Financial Opportunities Fund in the 3rd quarter worth $210,000. Focus Partners Wealth purchased a new position in John Hancock Financial Opportunities Fund in the fourth quarter worth about $212,000. L.M. Kohn & Company raised 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 buying an additional 425 shares during the period. Finally, Private Advisor Group LLC lifted its stake in John Hancock Financial Opportunities Fund by 7.8% in 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 last quarter. Hedge funds and other institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Stock Performance

Shares of NYSE:BTO traded up $0.23 during trading on Tuesday, hitting $37.49. 46,806 shares of the company’s stock were exchanged, compared to its average volume of 48,384. John Hancock Financial Opportunities Fund has a 52-week low of $26.11 and a 52-week high of $39.87. The business’s 50-day simple moving average is $36.38 and its 200 day simple moving average is $34.99.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend was Thursday, December 12th.

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.