BTO - Why John Hancock Financial Opportunities Fund Was Up 6.7% This Week
2023-06-09 15:30:04 ET
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&P 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 .
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Why John Hancock Financial Opportunities Fund Was Up 6.7% This Week