Short Interest in John Hancock Financial Opportunities Fund (NYSE:BTO) Expands By 197.1%

John Hancock Financial Opportunities Fund (NYSE:BTO) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 20,500 shares, a growth of 197.1% from the February 28th total of 6,900 shares. Based on an average daily volume of 46,800 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

John Hancock Financial Opportunities Fund Stock Down 0.6 %

BTO stock traded down $0.21 during midday trading on Thursday, hitting $34.02. The company’s stock had a trading volume of 14,212 shares, compared to its average volume of 50,779. The company’s fifty day moving average price is $35.69 and its 200 day moving average price is $35.40. John Hancock Financial Opportunities Fund has a twelve month low of $26.11 and a twelve month high of $39.87.

John Hancock Financial Opportunities Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 13th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date of this dividend is Thursday, March 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in shares of John Hancock Financial Opportunities Fund during the 4th quarter worth approximately $18,745,000. Cornerstone Advisors LLC increased its holdings in John Hancock Financial Opportunities Fund by 4.2% during the fourth quarter. Cornerstone Advisors LLC now owns 236,370 shares of the financial services provider’s stock worth $8,436,000 after buying an additional 9,633 shares during the last quarter. LPL Financial LLC raised its position in John Hancock Financial Opportunities Fund by 66.8% during the fourth quarter. LPL Financial LLC now owns 185,773 shares of the financial services provider’s stock worth $6,630,000 after acquiring an additional 74,403 shares in the last quarter. FCA Corp TX lifted its stake in John Hancock Financial Opportunities Fund by 0.7% in the fourth quarter. FCA Corp TX now owns 94,630 shares of the financial services provider’s stock valued at $3,377,000 after acquiring an additional 638 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of John Hancock Financial Opportunities Fund by 28.2% in the 4th quarter. Stifel Financial Corp now owns 71,662 shares of the financial services provider’s stock valued at $2,558,000 after purchasing an additional 15,744 shares during the period. 19.55% of the stock is owned by institutional investors and hedge funds.

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.