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

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $36.18 and traded as low as $35.71. John Hancock Financial Opportunities Fund shares last traded at $35.89, with a volume of 46,348 shares traded.

John Hancock Financial Opportunities Fund Stock Down 0.3%

The firm’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $34.42.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 7.2%. The ex-dividend date is Friday, September 12th.

Institutional Trading of John Hancock Financial Opportunities Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Fifth Third Bancorp acquired a new position in John Hancock Financial Opportunities Fund during the 2nd quarter valued at $35,000. Blue Trust Inc. acquired a new position in John Hancock Financial Opportunities Fund during the 2nd quarter worth about $35,000. Thompson Investment Management Inc. lifted its position in John Hancock Financial Opportunities Fund by 149.0% during the 2nd quarter. Thompson Investment Management Inc. now owns 1,616 shares of the financial services provider’s stock worth $57,000 after buying an additional 967 shares in the last quarter. Private Trust Co. NA lifted its position in John Hancock Financial Opportunities Fund by 33.3% during the 1st quarter. Private Trust Co. NA now owns 2,000 shares of the financial services provider’s stock worth $68,000 after buying an additional 500 shares in the last quarter. Finally, Allworth Financial LP lifted its position in John Hancock Financial Opportunities Fund by 32.5% during the 2nd quarter. Allworth Financial LP now owns 4,493 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 1,102 shares during the period. 19.55% of the stock is currently owned by institutional investors and hedge funds.

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.