John Hancock Financial Opportunities Fund (NYSE:BTO) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTOGet Free Report) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $36.71 and traded as low as $35.15. John Hancock Financial Opportunities Fund shares last traded at $35.69, with a volume of 58,414 shares changing hands.

John Hancock Financial Opportunities Fund Stock Performance

The firm’s 50 day moving average price is $36.74 and its 200 day moving average price is $33.26.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Thursday, December 12th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date was Thursday, December 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE purchased a new stake in shares of John Hancock Financial Opportunities Fund in the 3rd quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in John Hancock Financial Opportunities Fund during the second quarter worth about $51,000. EverSource Wealth Advisors LLC bought a new stake in John Hancock Financial Opportunities Fund during the second quarter worth about $70,000. Wealth Enhancement Advisory Services LLC purchased a new stake in John Hancock Financial Opportunities Fund in the third quarter worth about $210,000. Finally, Wedbush Securities Inc. increased its stake in shares of John Hancock Financial Opportunities Fund by 8.7% during the second quarter. Wedbush Securities Inc. now owns 8,738 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Company Profile

(Get Free Report)

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.

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