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

view original post

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

Hedge funds have recently modified their holdings of the business. Morgan Stanley grew its holdings in shares of John Hancock Financial Opportunities Fund by 1.5% during the third quarter. Morgan Stanley now owns 1,563,167 shares of the financial services provider’s stock worth $66,466,000 after buying an additional 22,524 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in John Hancock Financial Opportunities Fund by 10.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 406,593 shares of the financial services provider’s stock valued at $16,345,000 after purchasing an additional 37,659 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of John Hancock Financial Opportunities Fund by 2.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 256,952 shares of the financial services provider’s stock valued at $11,971,000 after acquiring an additional 6,038 shares during the period. Bank of America Corp DE lifted its position in shares of John Hancock Financial Opportunities Fund by 1.8% during the 1st quarter. Bank of America Corp DE now owns 190,809 shares of the financial services provider’s stock valued at $7,670,000 after acquiring an additional 3,346 shares during the period. Finally, Royal Bank of Canada raised its position in shares of John Hancock Financial Opportunities Fund by 5.9% during the 1st quarter. Royal Bank of Canada now owns 156,427 shares of the financial services provider’s stock worth $6,288,000 after purchasing an additional 8,766 shares during the last quarter. 18.10% of the stock is currently owned by institutional investors.

John Hancock Financial Opportunities Fund stock traded down $1.54 during mid-day trading on Thursday, hitting $32.66. The company’s stock had a trading volume of 260 shares, compared to its average volume of 50,602. The stock’s fifty day moving average is $37.41 and its two-hundred day moving average is $41.66. John Hancock Financial Opportunities Fund has a 1 year low of $33.03 and a 1 year high of $52.88.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Monday, June 13th will be paid a $0.65 dividend. 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 dividend on an annualized basis and a yield of 7.96%.

About John Hancock Financial Opportunities Fund (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.

Further Reading

Receive News & Ratings for John Hancock Financial Opportunities Fund Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for John Hancock Financial Opportunities Fund and related companies with MarketBeat.com’s FREE daily email newsletter.