John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Update
by Sarita Garza · The Markets DailyJohn Hancock Financial Opportunities Fund (NYSE:BTO – Get Free Report) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 9,304 shares, a drop of 60.6% from the January 29th total of 23,617 shares. Based on an average trading volume of 58,427 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are sold short. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 58,427 shares, the days-to-cover ratio is presently 0.2 days.
Hedge Funds Weigh In On John Hancock Financial Opportunities Fund
Hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of John Hancock Financial Opportunities Fund during the fourth quarter valued at about $272,000. Readystate Asset Management LP purchased a new position in John Hancock Financial Opportunities Fund during the 4th quarter valued at about $2,481,000. Mariner LLC raised its position in John Hancock Financial Opportunities Fund by 45.2% during the 4th quarter. Mariner LLC now owns 27,765 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 8,643 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in John Hancock Financial Opportunities Fund in the 4th quarter worth approximately $391,000. Finally, Stifel Financial Corp grew its position in shares of John Hancock Financial Opportunities Fund by 0.3% in the 4th quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider’s stock worth $3,043,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 19.55% of the company’s stock.
John Hancock Financial Opportunities Fund Stock Performance
BTO stock traded down $1.76 during midday trading on Friday, hitting $35.70. The company had a trading volume of 119,821 shares, compared to its average volume of 58,467. John Hancock Financial Opportunities Fund has a 52 week low of $27.73 and a 52 week high of $39.85. The stock’s 50 day moving average price is $37.01 and its 200 day moving average price is $35.88.
John Hancock Financial Opportunities Fund Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors 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 yield of 7.3%. The ex-dividend date was Thursday, December 11th.
John Hancock Financial Opportunities Fund Company Profile
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.