I have been a big fan of the John Hancock Financial Opportunity Fund (BTO) for many years, but its distribution yield, around 6%, never excited me all that much. But the fund, currently beaten-down in price but looking strong in terms of its portfolio and-cash generating ability, is still making the same distribution payment it always has. Except, now it represents a 10% distribution yield at its current price.
BTO, whose symbol used to stand for "Bank & Thrift Opportunities," started out years ago investing in smaller regional banks and thrift institutions and