The European Equity Fund (NYSE:EEA) Share Price Passes Below Fifty Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemShares of The European Equity Fund, Inc. (NYSE:EEA – Get Free Report) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $10.81 and traded as low as $10.45. The European Equity Fund shares last traded at $10.62, with a volume of 44,370 shares.
The European Equity Fund Trading Down 1.8%
The stock’s 50-day moving average is $10.80 and its two-hundred day moving average is $10.75.
The European Equity Fund Announces Dividend
The company also recently disclosed a dividend, which was paid on Friday, January 30th. Investors of record on Tuesday, December 30th were issued a $0.165 dividend. This represents a dividend yield of 1,462.0%. The ex-dividend date was Tuesday, December 30th.
Hedge Funds Weigh In On The European Equity Fund
Institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new stake in The European Equity Fund during the 4th quarter worth approximately $76,000. Spirepoint Private Client LLC acquired a new stake in shares of The European Equity Fund in the fourth quarter valued at $117,000. Citadel Advisors LLC purchased a new position in The European Equity Fund in the third quarter valued at $158,000. Blue Bell Private Wealth Management LLC grew its stake in The European Equity Fund by 33.4% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 22,914 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 5,739 shares in the last quarter. Finally, Shaker Financial Services LLC increased its holdings in The European Equity Fund by 12.7% during the 4th quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider’s stock worth $5,557,000 after purchasing an additional 56,564 shares during the period. 51.94% of the stock is owned by institutional investors and hedge funds.
About The European Equity Fund
The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.
The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.