John Hancock Financial Opportunities Fund (NYSE:BTO) Shares Pass Below Fifty Day Moving Average of $29.00

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $29.00 and traded as low as $28.22. John Hancock Financial Opportunities Fund shares last traded at $28.41, with a volume of 41,831 shares traded.

John Hancock Financial Opportunities Fund Trading Up 2.3 %

The stock’s 50-day moving average is $28.97 and its 200-day moving average is $27.90.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Monday, March 11th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 8.93%. The ex-dividend date is Friday, March 8th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

A number of institutional investors have recently added to or reduced their stakes in BTO. Advisor Group Holdings Inc. grew its holdings in John Hancock Financial Opportunities Fund by 9.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,013 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 507 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of John Hancock Financial Opportunities Fund by 62.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,517 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 6,330 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of John Hancock Financial Opportunities Fund in the 1st quarter valued at $260,000. Mariner LLC bought a new stake in shares of John Hancock Financial Opportunities Fund in the 1st quarter valued at $420,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of John Hancock Financial Opportunities Fund in the 1st quarter valued at $626,000. 19.55% of the stock is owned by 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.