John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $36.32 and traded as high as $37.64. John Hancock Financial Opportunities Fund shares last traded at $36.90, with a volume of 50,778 shares.

John Hancock Financial Opportunities Fund Stock Down 1.9 %

The stock’s fifty day moving average price is $36.32 and its 200-day moving average price is $32.54.

John Hancock Financial Opportunities Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, December 12th will be paid a $0.65 dividend. The ex-dividend date is Thursday, December 12th. This represents a $2.60 annualized dividend and a yield of 7.05%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. US Bancorp DE bought a new stake in John Hancock Financial Opportunities Fund in the 3rd quarter valued at $30,000. International Assets Investment Management LLC acquired a new position in shares of John Hancock Financial Opportunities Fund in the second quarter valued at $51,000. EverSource Wealth Advisors LLC bought a new position in shares of John Hancock Financial Opportunities Fund in the second quarter valued at about $70,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 3rd quarter worth about $210,000. Finally, Wedbush Securities Inc. lifted its stake in shares of John Hancock Financial Opportunities Fund by 8.7% during the 2nd quarter. Wedbush Securities Inc. now owns 8,738 shares of the financial services provider’s stock worth $245,000 after buying an additional 700 shares during the last quarter. 19.55% of the stock is currently 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.