John Hancock Financial Opportunities Fund (NYSE:BTO) Hits New 12-Month High – Here’s What Happened

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $40.70 and last traded at $40.60, with a volume of 11006 shares traded. The stock had previously closed at $39.76.

John Hancock Financial Opportunities Fund Trading Down 1.3%

The stock’s 50-day moving average is $37.76 and its 200-day moving average is $36.92.

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John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 11th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend was Thursday, June 11th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in BTO. FCA Corp TX increased its stake in shares of John Hancock Financial Opportunities Fund by 2.4% in the first quarter. FCA Corp TX now owns 88,984 shares of the financial services provider’s stock valued at $3,192,000 after buying an additional 2,064 shares during the period. Cetera Investment Advisers increased its stake in shares of John Hancock Financial Opportunities Fund by 18.5% in the 1st quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock valued at $302,000 after acquiring an additional 1,315 shares in the last quarter. Fifth Third Bancorp bought a new stake in John Hancock Financial Opportunities Fund in the first quarter valued at $206,000. Kestra Advisory Services LLC increased its position in John Hancock Financial Opportunities Fund by 4.4% in the 1st quarter. Kestra Advisory Services LLC now owns 15,090 shares of the financial services provider’s stock valued at $541,000 after buying an additional 639 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of John Hancock Financial Opportunities Fund by 3.4% during the first quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider’s stock valued at $859,000 after acquiring an additional 796 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

(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.

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