John Hancock Financial Opportunities Fund (NYSE:BTO) Short Interest Update

John Hancock Financial Opportunities Fund (NYSE:BTO) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 12,700 shares, an increase of 647.1% from the July 31st total of 1,700 shares. Based on an average daily trading volume, of 67,600 shares, the short-interest ratio is currently 0.2 days.

John Hancock Financial Opportunities Fund Stock Down 1.1 %

Shares of NYSE:BTO traded down $0.38 during midday trading on Tuesday, reaching $32.92. 47,020 shares of the company’s stock were exchanged, compared to its average volume of 56,592. John Hancock Financial Opportunities Fund has a fifty-two week low of $22.96 and a fifty-two week high of $33.48. The firm’s 50 day simple moving average is $30.16 and its two-hundred day simple moving average is $28.86.

John Hancock Financial Opportunities Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date of this dividend was Thursday, June 13th.

Hedge Funds Weigh In On John Hancock Financial Opportunities Fund

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in John Hancock Financial Opportunities Fund during the 2nd quarter worth about $51,000. EverSource Wealth Advisors LLC purchased a new stake in John Hancock Financial Opportunities Fund during the second quarter worth about $70,000. Abel Hall LLC acquired a new stake in shares of John Hancock Financial Opportunities Fund during the fourth quarter worth about $241,000. J.W. Cole Advisors Inc. boosted its stake in shares of John Hancock Financial Opportunities Fund by 17.5% in the first 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. boosted its stake in shares of John Hancock Financial Opportunities Fund by 8.7% in the second quarter. Wedbush Securities Inc. now owns 8,738 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 700 shares during the period. 19.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.