Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Grows By 85.7%

John Hancock Financial Opportunities Fund (NYSE:BTO) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 16,900 shares, a growth of 85.7% from the May 31st total of 9,100 shares. Based on an average daily trading volume, of 51,600 shares, the short-interest ratio is presently 0.3 days.

John Hancock Financial Opportunities Fund Stock Performance

NYSE:BTO traded up $0.60 during midday trading on Friday, hitting $28.01. 132,325 shares of the company traded hands, compared to its average volume of 63,426. The firm’s fifty day moving average is $27.86 and its 200-day moving average is $28.67. John Hancock Financial Opportunities Fund has a 12-month low of $22.96 and a 12-month high of $31.42.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.60 annualized dividend and a yield of 9.28%.

Analyst Upgrades and Downgrades

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

Institutional Trading of John Hancock Financial Opportunities Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Redwood Wealth Management Group LLC purchased a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $220,000. J.W. Cole Advisors Inc. purchased a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $223,000. Abel Hall LLC purchased a new stake in John Hancock Financial Opportunities Fund in the fourth quarter worth $241,000. HighTower Advisors LLC increased its stake in John Hancock Financial Opportunities Fund by 8.9% in the third quarter. HighTower Advisors LLC now owns 9,908 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 811 shares during the period. Finally, Private Advisor Group LLC increased its stake in John Hancock Financial Opportunities Fund by 24.1% in the fourth quarter. Private Advisor Group LLC now owns 9,663 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 1,876 shares during the period. Hedge funds and other institutional investors own 19.55% of the company’s stock.

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.