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

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $36.30 and traded as high as $36.45. John Hancock Financial Opportunities Fund shares last traded at $35.98, with a volume of 30,161 shares trading hands.

John Hancock Financial Opportunities Fund Stock Down 0.5 %

The company has a fifty day moving average price of $36.30 and a two-hundred day moving average price of $35.17.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were issued a $0.65 dividend. The ex-dividend date was Thursday, December 12th. This represents a $2.60 annualized dividend and a dividend yield of 7.23%.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Hedge funds have recently modified their holdings of the stock. US Bancorp DE purchased a new stake in shares of John Hancock Financial Opportunities Fund during the third quarter valued at $30,000. Focus Partners Wealth purchased a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter valued at $212,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of John Hancock Financial Opportunities Fund during the third quarter valued at $210,000. L.M. Kohn & Company lifted its holdings in shares of John Hancock Financial Opportunities Fund by 3.5% during the third quarter. L.M. Kohn & Company now owns 12,691 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 425 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of John Hancock Financial Opportunities Fund by 7.8% during the third quarter. Private Advisor Group LLC now owns 13,978 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 1,015 shares during the last quarter. 19.55% of the stock is owned by hedge funds and other 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.