John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Crosses Below 50 Day Moving Average of $27.81

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $27.81 and traded as low as $26.78. John Hancock Financial Opportunities Fund shares last traded at $26.79, with a volume of 56,514 shares.

Wall Street Analyst Weigh In

Separately, Scotiabank upgraded shares of John Hancock Financial Opportunities Fund to a “strong-buy” rating in a research note on Thursday, May 9th.

John Hancock Financial Opportunities Fund Price Performance

The business has a 50 day moving average price of $27.81 and a 200 day moving average price of $28.75.

John Hancock Financial Opportunities Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 9.71%. The ex-dividend date of this dividend is Thursday, June 13th.

Institutional Investors Weigh In On John Hancock Financial Opportunities Fund

Several hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new position in John Hancock Financial Opportunities Fund during the 4th quarter valued at $220,000. J.W. Cole Advisors Inc. bought a new stake in shares of John Hancock Financial Opportunities Fund in the fourth quarter valued at about $223,000. Abel Hall LLC acquired a new stake in John Hancock Financial Opportunities Fund during the fourth quarter worth about $241,000. Private Advisor Group LLC increased its stake in John Hancock Financial Opportunities Fund by 24.1% during the fourth quarter. Private Advisor Group LLC now owns 9,663 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 1,876 shares during the period. Finally, HighTower Advisors LLC raised its holdings in John Hancock Financial Opportunities Fund by 8.9% in the 3rd quarter. HighTower Advisors LLC now owns 9,908 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 811 shares in the last quarter. 19.55% of the stock is owned by 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.