John Hancock Financial Opportunities Fund (NYSE:BTO) Share Price Passes Above 50 Day Moving Average - Should You Sell?

John Hancock Financial Opportunities Fund (NYSE:BTO - Get Free Report)'s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $35.92 and traded as high as $37.57. John Hancock Financial Opportunities Fund shares last traded at $37.3550, with a volume of 36,488 shares trading hands.John Hancock Financial Opportunities Fund Stock Up 0.5%The company's 50 day moving average price is $35.92 and its two-hundred day moving average price is $35.67. John Hancock Financial Opportunities Fund Announces DividendThe business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 12th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Thursday, March 12th. Institutional Inflows and OutflowsLarge investors have recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of John Hancock Financial Opportunities Fund by 0.3% in the fourth quarter. Stifel Financial Corp now owns 86,733 shares of the financial services provider's stock worth $3,043,000 after acquiring an additional 302 shares during the period. Redwood Wealth Management Group LLC increased its holdings in John Hancock Financial Opportunities Fund by 4.5% in the 1st quarter. Redwood Wealth Management Group LLC now owns 9,229 shares of the financial services provider's stock valued at $331,000 after acquiring an additional 400 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in John Hancock Financial Opportunities Fund by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 22,951 shares of the financial services provider's stock worth $813,000 after purchasing an additional 552 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of John Hancock Financial Opportunities Fund by 3.4% in the first quarter. Private Advisor Group LLC now owns 23,961 shares of the financial services provider's stock worth $859,000 after purchasing an additional 796 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in John Hancock Financial Opportunities Fund in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 19.55% of the company's stock. John Hancock Financial Opportunities Fund Company Profile (Get Free Report)John Hancock Financial Opportunities Fund NYSE: BTO is a closed-end management investment company sponsored by John Hancock Investment Management, a division of Manulife Investment Management. Since its inception in August 2004, the fund has sought to deliver total return through a combination of current income and capital appreciation. As a publicly traded fund, it offers investors access to a diversified portfolio of financial services companies that might otherwise require direct equity investments or specialized mandates. The fund primarily invests in common stocks, preferred stocks and convertible securities issued by companies in the banking, insurance, brokerage and specialty finance sectors.Featured StoriesFive stocks we like better than John Hancock Financial Opportunities FundThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in John Hancock Financial Opportunities Fund Right Now?Before you consider John Hancock Financial Opportunities Fund, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and John Hancock Financial Opportunities Fund wasn't on the list.While John Hancock Financial Opportunities Fund currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here