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

First Trust Enhanced Equity Income Fund (NYSE:FFA) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,300 shares, a decline of 86.6% from the October 15th total of 24,600 shares. Based on an average daily trading volume, of 24,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. lifted its stake in First Trust Enhanced Equity Income Fund by 4.5% in the 3rd quarter. Raymond James Trust N.A. now owns 17,425 shares of the company’s stock worth $354,000 after acquiring an additional 750 shares in the last quarter. Cornerstone Advisors LLC raised its stake in shares of First Trust Enhanced Equity Income Fund by 15.2% during the 3rd quarter. Cornerstone Advisors LLC now owns 14,985 shares of the company’s stock worth $305,000 after purchasing an additional 1,973 shares in the last quarter. Moloney Securities Asset Management LLC increased its holdings in shares of First Trust Enhanced Equity Income Fund by 16.7% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 11,692 shares of the company’s stock valued at $238,000 after acquiring an additional 1,676 shares during the last quarter. West Bancorporation Inc. increased its holdings in shares of First Trust Enhanced Equity Income Fund by 6.6% during the 3rd quarter. West Bancorporation Inc. now owns 16,621 shares of the company’s stock valued at $338,000 after acquiring an additional 1,025 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in First Trust Enhanced Equity Income Fund by 1,934.5% in the 3rd quarter. International Assets Investment Management LLC now owns 217,449 shares of the company’s stock valued at $44,230,000 after buying an additional 206,761 shares during the last quarter.

First Trust Enhanced Equity Income Fund Stock Performance

Shares of FFA traded down $0.06 during trading on Tuesday, reaching $20.66. The company’s stock had a trading volume of 15,956 shares, compared to its average volume of 24,340. First Trust Enhanced Equity Income Fund has a twelve month low of $16.88 and a twelve month high of $20.84. The company has a fifty day moving average of $20.21 and a two-hundred day moving average of $19.69.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 20th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend was Friday, September 20th.

First Trust Enhanced Equity Income Fund Company Profile

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors.