BTO: Financial Selloff Pushes Distribution Rate To Over 7% [Seeking Alpha]
John Hancock Financial Opportunities Fund (BTO)
US:NYSE Investor Relations:
bankofjacksonhole.com
Company Research
Source: Seeking Alpha
BTO: Financial Selloff Pushes Distribution Rate To Over 7% Summary BTO's price has been trending down for the last year, down 16.65% over that time period. The fund invests its assets in the financial sector, holding many big bank names. This sector has been under significant pressure as the Fed is now in interest rate-cutting mode amid the slowdown in the global economy. John Hancock Financial Opportunities Fund ( I've covered BTO in the past, at a time when the financial sector had a much brighter outlook. This was before the recent new trend of interest rate cuts by the Fed, and the global economy seemed to be in a much better position. However, in the last 1-year period BTO is showing a total return of -16.65%, and a total NAV return of -14.47%. This is even significantly underperforming its benchmark index. The S&P Composite 1500 Financials has a 1-year return of -4.54%, although BTO has outperformed their benchmark on a YTD basis and over the long term. (Source - The chart above
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Sec Filings
- 5/9/24 - Form 424B3
- 4/30/24 - Form N-2
- 3/14/24 - Form N-CEN
- BTO's page on the SEC website