Why John Hancock Financial Opportunities Fund Was Up 6.7% This Week
Shares of the John Hancock Financial Opportunities Fund (NYSE: BTO) were up by 6.7% this week as of 11 a.m. ET Friday, according to S&P Global Market Intelligence, trading at about $28 per share. The fund had been up by as much as 7.5% earlier during the week. However, it is still down by about 15% year to date.
The broader market was up slightly for the week at that point in the session, with the S 500 up 0.6%, the Dow Jones Industrial Average higher by 0.5%, and the Nasdaq Composite up 0.4%.
The John Hancock Financial Opportunities Fund is a closed-end fund that invests primarily in U.S. and foreign financial services companies. It holds about 163 stocks -- and 86% of its portfolio value is in bank stocks. Its five largest holdings are KKR Co., Ares Management, JPMorgan Chase, Regions Financial, and Bank of America.
Source Fool.com
