John Hancock Financial Opportunities Fund (NYSE:BTO) Sets New 1-Year High at $32.84

Shares of John Hancock Financial Opportunities Fund (NYSE:BTO) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $32.84 and last traded at $32.42, with a volume of 33902 shares. The stock had previously closed at $32.20.

Analyst Upgrades and Downgrades

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 Stock Up 2.7 %

The company’s 50 day moving average is $28.59 and its 200-day moving average is $28.67.

John Hancock Financial Opportunities Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.96%.

Institutional Trading of John Hancock Financial Opportunities Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC raised its holdings in John Hancock Financial Opportunities Fund by 24.1% in the 4th 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 in the last quarter. L.M. Kohn & Company increased its holdings in John Hancock Financial Opportunities Fund by 22.2% in the 4th quarter. L.M. Kohn & Company now owns 11,411 shares of the financial services provider’s stock valued at $343,000 after buying an additional 2,070 shares during the period. FCA Corp TX boosted its position in shares of John Hancock Financial Opportunities Fund by 0.6% during the 4th quarter. FCA Corp TX now owns 91,296 shares of the financial services provider’s stock worth $2,746,000 after acquiring an additional 507 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of John Hancock Financial Opportunities Fund in the 4th quarter valued at $2,375,000. Finally, Formidable Asset Management LLC boosted its stake in John Hancock Financial Opportunities Fund by 24.0% in the fourth quarter. Formidable Asset Management LLC now owns 12,910 shares of the financial services provider’s stock valued at $388,000 after buying an additional 2,500 shares in the last quarter. Institutional investors and hedge funds 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.