First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Significant Increase in Short Interest

by · The Markets Daily

First Trust Enhanced Equity Income Fund (NYSE:FFA – Get Free Report) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totaling 1,717 shares, a growth of 351.8% from the November 30th total of 380 shares. Based on an average trading volume of 20,973 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 20,973 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of FFA. Exeter Financial LLC raised its holdings in shares of First Trust Enhanced Equity Income Fund by 4.8% in the second quarter. Exeter Financial LLC now owns 557,569 shares of the company’s stock valued at $11,419,000 after buying an additional 25,355 shares during the last quarter. Invesco Ltd. grew its holdings in First Trust Enhanced Equity Income Fund by 2.0% during the 3rd quarter. Invesco Ltd. now owns 381,976 shares of the company’s stock worth $8,220,000 after acquiring an additional 7,411 shares during the last quarter. Raymond James Financial Inc. increased its position in First Trust Enhanced Equity Income Fund by 2.3% in the 3rd quarter. Raymond James Financial Inc. now owns 258,979 shares of the company’s stock valued at $5,573,000 after acquiring an additional 5,873 shares in the last quarter. Shaker Financial Services LLC raised its stake in shares of First Trust Enhanced Equity Income Fund by 36.3% in the third quarter. Shaker Financial Services LLC now owns 245,347 shares of the company’s stock worth $5,280,000 after acquiring an additional 65,352 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its position in shares of First Trust Enhanced Equity Income Fund by 1.9% during the third quarter. North Star Investment Management Corp. now owns 180,173 shares of the company’s stock worth $3,877,000 after purchasing an additional 3,359 shares in the last quarter.

First Trust Enhanced Equity Income Fund Stock Up 0.2%

Shares of NYSE:FFA traded up $0.05 on Friday, hitting $21.80. The stock had a trading volume of 11,891 shares, compared to its average volume of 27,577. The firm’s 50 day moving average price is $21.62 and its 200-day moving average price is $21.17. First Trust Enhanced Equity Income Fund has a twelve month low of $15.00 and a twelve month high of $22.00.

First Trust Enhanced Equity Income Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be given a dividend of $0.3875 per share. The ex-dividend date is Monday, December 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 7.1%.

First Trust Enhanced Equity Income Fund Company Profile

(Get Free Report)

First Trust Enhanced Equity Income Fund (NYSE:FFA) is a closed-end management investment company managed by First Trust Advisors L.P. The fund seeks to provide total return with an emphasis on current income. To pursue its objective, the fund employs a dual strategy that combines equity ownership in U.S. companies with a systematic covered call option overlay.

FFA primarily invests in a diversified portfolio of common stocks of large- and mid-cap U.S. companies that are selected for their potential to pay dividends.

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