John Hancock Financial Opprts Fund (NYSE:BTO) Stock Crosses Below 50-Day Moving Average of $31.11

John Hancock Financial Opprts Fund (NYSE:BTO) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $31.11 and traded as low as $32.94. John Hancock Financial Opprts Fund shares last traded at $33.00, with a volume of 500 shares trading hands.

Separately, Canaccord Genuity restated a “buy” rating and issued a $5.75 target price on shares of John Hancock Financial Opprts Fund in a research note on Wednesday, June 5th.

The company has a 50 day moving average price of $31.12 and a 200 day moving average price of $32.31.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.55 dividend. The ex-dividend date is Thursday, September 12th. This is an increase from John Hancock Financial Opprts Fund’s previous quarterly dividend of $0.37. This represents a $2.20 annualized dividend and a dividend yield of 6.68%.

Several institutional investors and hedge funds have recently modified their holdings of the company. FCA Corp TX grew its stake in shares of John Hancock Financial Opprts Fund by 0.3% in the 2nd quarter. FCA Corp TX now owns 97,986 shares of the financial services provider’s stock valued at $3,155,000 after buying an additional 328 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of John Hancock Financial Opprts Fund by 4.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,438 shares of the financial services provider’s stock valued at $272,000 after buying an additional 333 shares during the period. Wedbush Securities Inc. grew its stake in shares of John Hancock Financial Opprts Fund by 5.3% in the 2nd quarter. Wedbush Securities Inc. now owns 8,779 shares of the financial services provider’s stock valued at $283,000 after buying an additional 439 shares during the period. LPL Financial LLC grew its stake in shares of John Hancock Financial Opprts Fund by 1.8% in the 2nd quarter. LPL Financial LLC now owns 41,976 shares of the financial services provider’s stock valued at $1,352,000 after buying an additional 739 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of John Hancock Financial Opprts Fund by 2.5% in the 2nd quarter. First Trust Advisors LP now owns 30,816 shares of the financial services provider’s stock valued at $992,000 after buying an additional 755 shares during the period. Institutional investors own 20.48% of the company’s stock.

About John Hancock Financial Opprts Fund (NYSE:BTO)

John Hancock Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by John Hancock Advisers, 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.

Featured Article: Understanding Average Daily Trade Volume

Receive News & Ratings for John Hancock Financial Opprts Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Hancock Financial Opprts Fund and related companies with MarketBeat.com's FREE daily email newsletter.