Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Drops By 64.9%

John Hancock Financial Opportunities Fund (NYSE:BTO) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 9,300 shares, a decrease of 64.9% from the September 15th total of 26,500 shares. Based on an average trading volume of 57,900 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTO. International Assets Investment Management LLC acquired a new stake in shares of John Hancock Financial Opportunities Fund during the 2nd quarter worth about $51,000. EverSource Wealth Advisors LLC acquired a new stake in John Hancock Financial Opportunities Fund during the second quarter worth approximately $70,000. Abel Hall LLC purchased a new position in shares of John Hancock Financial Opportunities Fund during the fourth quarter worth about $241,000. J.W. Cole Advisors Inc. boosted its position in shares of John Hancock Financial Opportunities Fund by 17.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 8,703 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 1,295 shares during the period. Finally, Wedbush Securities Inc. grew its stake in 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. Hedge funds and other institutional investors own 19.55% of the company’s stock.

John Hancock Financial Opportunities Fund Price Performance

NYSE BTO traded up $0.41 during trading hours on Friday, hitting $33.10. 42,955 shares of the company were exchanged, compared to its average volume of 54,739. The company has a 50 day moving average of $32.19 and a two-hundred day moving average of $29.86. John Hancock Financial Opportunities Fund has a 52-week low of $22.96 and a 52-week high of $33.66.

John Hancock Financial Opportunities Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.60 annualized dividend and a yield of 7.85%.

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.