John Hancock Financial Opportunities Fund (NYSE:BTO) Sees Large Growth in Short Interest

by · The Cerbat Gem

John Hancock Financial Opportunities Fund (NYSE:BTO – Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 5,731 shares, an increase of 47.9% from the December 31st total of 3,876 shares. Based on an average trading volume of 57,402 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 57,402 shares, the short-interest ratio is currently 0.1 days.

John Hancock Financial Opportunities Fund Stock Up 2.2%

NYSE BTO traded up $0.81 during trading on Monday, reaching $38.34. 90,997 shares of the stock traded hands, compared to its average volume of 65,271. John Hancock Financial Opportunities Fund has a fifty-two week low of $27.73 and a fifty-two week high of $38.80. The stock’s 50-day moving average price is $35.76 and its 200 day moving average price is $35.48.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Thursday, December 11th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, December 11th. This represents a $2.60 annualized dividend and a dividend yield of 6.8%.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in John Hancock Financial Opportunities Fund during the 4th quarter worth $2,671,000. Shaker Financial Services LLC acquired a new stake in John Hancock Financial Opportunities Fund in the 4th quarter worth about $371,000. Farther Finance Advisors LLC bought a new stake in John Hancock Financial Opportunities Fund in the 4th quarter valued at about $43,000. Sowell Financial Services LLC acquired a new position in shares of John Hancock Financial Opportunities Fund during the 4th quarter worth approximately $257,000. Finally, Centaurus Financial Inc. bought a new position in shares of John Hancock Financial Opportunities Fund during the third quarter worth approximately $102,000. 19.55% of the stock is owned by institutional investors.

About John Hancock Financial Opportunities Fund

(Get Free Report)

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.

See Also