John Hancock Financial Opportunities Fund (NYSE:BTO) Reaches New 12-Month High – Here’s What Happened

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $39.15 and last traded at $39.13, with a volume of 19473 shares changing hands. The stock had previously closed at $38.23.

John Hancock Financial Opportunities Fund Stock Performance

The company has a 50 day moving average of $34.29 and a 200-day moving average of $31.40.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, September 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.74%.

Institutional Trading of John Hancock Financial Opportunities Fund

Several institutional investors have recently added to or reduced their stakes in BTO. HighTower Advisors LLC bought a new position in John Hancock Financial Opportunities Fund during the 3rd quarter worth approximately $511,000. L.M. Kohn & Company grew its holdings in shares of John Hancock Financial Opportunities Fund by 3.5% in the third quarter. L.M. Kohn & Company now owns 12,691 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 425 shares during the last quarter. Cornerstone Advisors LLC increased its stake in shares of John Hancock Financial Opportunities Fund by 132.9% in the third quarter. Cornerstone Advisors LLC now owns 226,737 shares of the financial services provider’s stock worth $7,519,000 after buying an additional 129,371 shares during the period. Shaker Financial Services LLC boosted its position in John Hancock Financial Opportunities Fund by 46.1% during the 3rd quarter. Shaker Financial Services LLC now owns 59,654 shares of the financial services provider’s stock valued at $1,978,000 after buying an additional 18,814 shares during the period. Finally, Stephens Inc. AR grew its holdings in John Hancock Financial Opportunities Fund by 288.4% in the 3rd quarter. Stephens Inc. AR now owns 44,757 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 33,233 shares during the last quarter. 19.55% of the stock is currently owned by hedge funds and other institutional investors.

About John Hancock Financial Opportunities Fund

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.