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John Hancock Financial Opportunities Fund is a closed-end, diversified management investment company. The Fund's investment objective is to provide a high level of total return consisting of long-term capital appreciation and current income. According to our BTO split history records, John Hancock Financial Opportunities Fund has had 2 splits.
BTO split history picture
John Hancock Financial Opportunities Fund (BTO) has 2 splits in our BTO split history database. The first split for BTO took place on December 02, 1997. This was a 4 for 1 split, meaning for each share of BTO owned pre-split, the shareholder now owned 4 shares. For example, a 1000 share position pre-split, became a 4000 share position following the split. BTO's second split took place on December 30, 2008. This was a 1 for 4 reverse split, meaning for each 4 shares of BTO owned pre-split, the shareholder now owned 1 share. For example, a 4000 share position pre-split, became a 1000 share position following the split.

When a company such as John Hancock Financial Opportunities Fund splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as John Hancock Financial Opportunities Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the BTO split history from start to finish, an original position size of 1000 shares would have turned into 1000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into John Hancock Financial Opportunities Fund shares, starting with a $10,000 purchase of BTO, presented on a split-history-adjusted basis factoring in the complete BTO split history. BTO split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 04/12/2010
End date: 04/09/2020
Start price/share: $17.33
End price/share: $20.95
Starting shares: 577.03
Ending shares: 1,005.36
Dividends reinvested/share: $13.69
Total return: 110.62%
Average Annual Total Return: 7.73%
Starting investment: $10,000.00
Ending investment: $21,055.55
Years: 10.00
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 04/12/2010
End date: 04/09/2020
Start price/share: $17.33
End price/share: $20.95
Dividends collected/share: $13.69
Total return: 99.86%
Average Annual Total Return: 7.17%
Starting investment: $10,000.00
Ending investment: $19,986.30
Years: 10.00
Date Ratio
12/02/19974 for 1
12/30/20081 for 4
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