Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Rises By 26.9%

John Hancock Financial Opportunities Fund (NYSE:BTOGet Rating) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 27,800 shares, an increase of 26.9% from the May 15th total of 21,900 shares. Based on an average daily volume of 46,800 shares, the days-to-cover ratio is presently 0.6 days.

A number of large investors have recently modified their holdings of BTO. First Trust Advisors LP lifted its stake in John Hancock Financial Opportunities Fund by 35.9% during the 1st quarter. First Trust Advisors LP now owns 30,061 shares of the financial services provider’s stock valued at $959,000 after acquiring an additional 7,944 shares in the last quarter. Morgan Stanley raised its stake in shares of John Hancock Financial Opportunities Fund by 5.1% during the 2nd quarter. Morgan Stanley now owns 1,540,643 shares of the financial services provider’s stock worth $57,836,000 after purchasing an additional 74,894 shares during the period. Invesco Ltd. raised its stake in shares of John Hancock Financial Opportunities Fund by 107.9% during the 3rd quarter. Invesco Ltd. now owns 13,460 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 6,985 shares during the period. Royal Bank of Canada raised its stake in shares of John Hancock Financial Opportunities Fund by 10.5% during the 3rd quarter. Royal Bank of Canada now owns 135,424 shares of the financial services provider’s stock worth $5,759,000 after purchasing an additional 12,848 shares during the period. Finally, National Asset Management Inc. raised its stake in shares of John Hancock Financial Opportunities Fund by 17.0% during the 3rd quarter. National Asset Management Inc. now owns 15,916 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 2,307 shares during the period. Institutional investors and hedge funds own 18.10% of the company’s stock.

NYSE:BTO traded down $1.54 during trading hours on Thursday, hitting $32.66. 260 shares of the company traded hands, compared to its average volume of 50,602. The firm’s 50-day simple moving average is $37.41 and its 200-day simple moving average is $41.66. John Hancock Financial Opportunities Fund has a one year low of $33.03 and a one year high of $52.88.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Monday, June 13th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, June 10th. This is a boost from John Hancock Financial Opportunities Fund’s previous quarterly dividend of $0.55. This represents a $2.60 annualized dividend and a yield of 7.96%.

John Hancock Financial Opportunities Fund Company Profile (Get Rating)

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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