John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Crosses Above 50 Day Moving Average – Time to Sell?

by · The Markets Daily

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO – Get Free Report) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $37.01 and traded as high as $37.54. John Hancock Financial Opportunities Fund shares last traded at $37.51, with a volume of 22,648 shares changing hands.

John Hancock Financial Opportunities Fund Trading Down 4.7%

The firm has a 50-day simple moving average of $37.00 and a 200-day simple moving average of $35.89.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, December 11th. This represents a $2.60 dividend on an annualized basis and a yield of 7.3%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of John Hancock Financial Opportunities Fund in the fourth quarter valued at approximately $272,000. Readystate Asset Management LP bought a new stake in John Hancock Financial Opportunities Fund during the 4th quarter worth approximately $2,481,000. Mariner LLC lifted its stake in John Hancock Financial Opportunities Fund by 45.2% in the 4th quarter. Mariner LLC now owns 27,765 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 8,643 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in John Hancock Financial Opportunities Fund in the 4th quarter valued at $391,000. Finally, Stifel Financial Corp boosted its holdings in 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 valued at $3,043,000 after purchasing an additional 302 shares during the period. 19.55% of the stock is currently owned by institutional investors.

John Hancock Financial Opportunities Fund Company Profile

(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.

Further Reading