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

John Hancock Financial Opportunities Fund (NYSE:BTO) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $33.96 and traded as high as $38.00. John Hancock Financial Opportunities Fund shares last traded at $37.74, with a volume of 32,077 shares traded.

John Hancock Financial Opportunities Fund Stock Up 0.3 %

The firm’s 50 day moving average price is $33.96 and its two-hundred day moving average price is $31.24.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.60 dividend on an annualized basis and a yield of 6.89%.

Institutional Trading of John Hancock Financial Opportunities Fund

Several large investors have recently modified their holdings of BTO. Cornerstone Advisors LLC lifted its stake in shares of John Hancock Financial Opportunities Fund by 132.9% in the third quarter. Cornerstone Advisors LLC now owns 226,737 shares of the financial services provider’s stock worth $7,519,000 after acquiring an additional 129,371 shares in the last quarter. Aurora Investment Counsel increased its holdings in John Hancock Financial Opportunities Fund by 0.5% during the 2nd quarter. Aurora Investment Counsel now owns 89,279 shares of the financial services provider’s stock worth $2,501,000 after purchasing an additional 429 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of John Hancock Financial Opportunities Fund by 3,216.0% in the 3rd quarter. International Assets Investment Management LLC now owns 60,517 shares of the financial services provider’s stock valued at $1,825,000 after purchasing an additional 58,692 shares in the last quarter. Shaker Financial Services LLC boosted its stake in shares of John Hancock Financial Opportunities Fund by 46.1% during the 3rd quarter. Shaker Financial Services LLC now owns 59,654 shares of the financial services provider’s stock valued at $1,978,000 after buying an additional 18,814 shares during the last quarter. Finally, Stephens Inc. AR grew its position in shares of John Hancock Financial Opportunities Fund by 288.4% during the third quarter. Stephens Inc. AR now owns 44,757 shares of the financial services provider’s stock worth $1,484,000 after buying an additional 33,233 shares in the last quarter. 19.55% of the stock is currently owned by institutional investors and hedge funds.

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.