John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Short Interest Jumps 102.1%

John Hancock Financial Opportunities Fund (NYSE:BTO – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 7,757 shares, an increase of 102.1% from the September 15th total of 3,838 shares. Based on an average daily trading volume, of 43,673 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

John Hancock Financial Opportunities Fund Trading Up 1.1%

Shares of BTO stock opened at $35.97 on Friday. John Hancock Financial Opportunities Fund has a fifty-two week low of $32.01 and a fifty-two week high of $42.00. The business’s 50 day moving average price is $38.43 and its 200-day moving average price is $38.11.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were issued a $0.65 dividend. The ex-dividend date was Friday, September 11th. This represents a $2.60 annualized dividend and a yield of 7.2%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in John Hancock Financial Opportunities Fund by 3.3% in the 1st quarter. Royal Bank of Canada now owns 267,804 shares of the financial services provider’s stock worth $9,606,000 after purchasing an additional 8,443 shares in the last quarter. Fifth Third Bancorp bought a new position in John Hancock Financial Opportunities Fund in the first quarter worth about $206,000. FCA Corp TX raised its stake in 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 worth $3,192,000 after buying an additional 2,064 shares in the last quarter. Cetera Investment Advisers raised its stake in John Hancock Financial Opportunities Fund by 18.5% in the first quarter. Cetera Investment Advisers now owns 8,415 shares of the financial services provider’s stock worth $302,000 after buying an additional 1,315 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in John Hancock Financial Opportunities Fund by 3.0% in the first quarter. Bank of America Corp DE now owns 45,151 shares of the financial services provider’s stock worth $1,620,000 after buying an additional 1,311 shares during the period. 19.55% of the stock is owned by hedge funds and other institutional investors.

About John Hancock Financial Opportunities Fund

(Get Free Report)

John Hancock Financial Opportunities Fund is a publicly traded closed-end investment company listed on the New York Stock Exchange under the symbol BTO. The fund is designed to provide investors with exposure to the financial services sector rather than operating as a traditional financial services company.

The fund seeks a high level of current income and long-term capital appreciation by investing primarily in companies involved in banking, insurance, asset management, financial technology and other financial-related activities.

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