John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.71 and traded as low as $35.15. John Hancock Financial Opportunities Fund shares last traded at $35.69, with a volume of 58,414 shares trading hands.

John Hancock Financial Opportunities Fund Stock Performance

The company has a 50-day simple moving average of $36.77 and a 200-day simple moving average of $33.28.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date of this dividend was Thursday, December 12th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors LLC lifted its position in shares of John Hancock Financial Opportunities Fund by 132.9% in the 3rd 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 last quarter. Aurora Investment Counsel lifted its holdings in John Hancock Financial Opportunities Fund by 0.5% in the 2nd quarter. Aurora Investment Counsel now owns 89,279 shares of the financial services provider’s stock valued at $2,501,000 after acquiring an additional 429 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in John Hancock Financial Opportunities Fund by 3,216.0% during the third quarter. International Assets Investment Management LLC now owns 60,517 shares of the financial services provider’s stock worth $1,825,000 after buying an additional 58,692 shares in the last quarter. Shaker Financial Services LLC grew its holdings in shares of John Hancock Financial Opportunities Fund by 46.1% in the 3rd quarter. Shaker Financial Services LLC now owns 59,654 shares of the financial services provider’s stock worth $1,978,000 after acquiring an additional 18,814 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in John Hancock Financial Opportunities Fund by 288.4% during the third quarter. Stephens Inc. AR now owns 44,757 shares of the financial services provider’s stock valued at $1,484,000 after buying an additional 33,233 shares in 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 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.