Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Grows By 85.7%

John Hancock Financial Opportunities Fund (NYSE:BTO) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 16,900 shares, a growth of 85.7% from the May 31st total of 9,100 shares. Based on an average daily volume of 51,600 shares, the short-interest ratio is currently 0.3 days.

John Hancock Financial Opportunities Fund Stock Performance

NYSE:BTO traded up $0.60 during trading hours on Friday, hitting $28.01. The company had a trading volume of 132,325 shares, compared to its average volume of 63,426. The stock has a 50-day moving average price of $27.86 and a 200 day moving average price of $28.67. John Hancock Financial Opportunities Fund has a 52 week low of $22.96 and a 52 week high of $31.42.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 9.28%. The ex-dividend date was Thursday, June 13th.

Institutional Trading of John Hancock Financial Opportunities Fund

Large investors have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC bought a new stake in John Hancock Financial Opportunities Fund in the fourth quarter valued at $220,000. J.W. Cole Advisors Inc. bought a new stake in John Hancock Financial Opportunities Fund in the fourth quarter valued at $223,000. Abel Hall LLC purchased a new position in John Hancock Financial Opportunities Fund during the fourth quarter valued at $241,000. HighTower Advisors LLC lifted its position in John Hancock Financial Opportunities Fund by 8.9% during the third quarter. HighTower Advisors LLC now owns 9,908 shares of the financial services provider’s stock valued at $260,000 after buying an additional 811 shares during the period. Finally, Private Advisor Group LLC lifted its position in John Hancock Financial Opportunities Fund by 24.1% during the fourth quarter. Private Advisor Group LLC now owns 9,663 shares of the financial services provider’s stock valued at $291,000 after buying an additional 1,876 shares during the period. Institutional investors own 19.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upgraded shares of John Hancock Financial Opportunities Fund to a “strong-buy” rating in a report on Thursday, May 9th.

John Hancock Financial Opportunities Fund Company Profile

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.