John Hancock Financial Opportunities Fund (NYSE:BTO) Hits New 1-Year High – What’s Next?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $39.85 and last traded at $39.14, with a volume of 17883 shares changing hands. The stock had previously closed at $39.69.

John Hancock Financial Opportunities Fund Stock Performance

The company’s 50-day moving average price is $36.38 and its two-hundred day moving average price is $35.61.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Thursday, December 11th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Thursday, December 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. bought a new position in shares of John Hancock Financial Opportunities Fund during the second quarter valued at about $35,000. Atlantic Union Bankshares Corp bought a new stake in John Hancock Financial Opportunities Fund in the 3rd quarter worth approximately $36,000. Farther Finance Advisors LLC bought a new position in shares of John Hancock Financial Opportunities Fund during the 4th quarter valued at $43,000. International Assets Investment Management LLC bought a new stake in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at about $57,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of John Hancock Financial Opportunities Fund during the third quarter valued at approximately $102,000. Institutional investors and hedge funds own 19.55% of the company’s stock.

About John Hancock Financial Opportunities Fund

John Hancock Financial Opportunities Fund (NYSE: BTO) is a closed-end management investment company sponsored by John Hancock Investment Management, a division of Manulife Investment Management. Since its inception in August 2004, the fund has sought to deliver total return through a combination of current income and capital appreciation. As a publicly traded fund, it offers investors access to a diversified portfolio of financial services companies that might otherwise require direct equity investments or specialized mandates.

The fund primarily invests in common stocks, preferred stocks and convertible securities issued by companies in the banking, insurance, brokerage and specialty finance sectors.