First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Large Decrease in Short Interest

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totalling 5,400 shares, a drop of 30.8% from the May 31st total of 7,800 shares. Based on an average trading volume of 22,400 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of First Trust Enhanced Equity Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. acquired a new stake in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at approximately $268,000. North Star Investment Management Corp. raised its position in shares of First Trust Enhanced Equity Income Fund by 3.8% during the first quarter. North Star Investment Management Corp. now owns 179,441 shares of the company’s stock worth $3,391,000 after acquiring an additional 6,594 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its position in First Trust Enhanced Equity Income Fund by 2.1% during the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 70,487 shares of the company’s stock valued at $1,332,000 after purchasing an additional 1,435 shares during the period. West Bancorporation Inc. bought a new stake in First Trust Enhanced Equity Income Fund during the first quarter valued at $195,000. Finally, Principal Securities Inc. bought a new position in shares of First Trust Enhanced Equity Income Fund in the 4th quarter worth about $32,000.

First Trust Enhanced Equity Income Fund Price Performance

Shares of FFA traded up $0.22 during trading hours on Friday, reaching $19.92. The stock had a trading volume of 66,146 shares, compared to its average volume of 24,039. First Trust Enhanced Equity Income Fund has a 52 week low of $15.84 and a 52 week high of $20.09. The firm has a 50-day moving average of $19.03 and a 200 day moving average of $18.61.

First Trust Enhanced Equity Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were paid a dividend of $0.35 per share. This is an increase from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 7.03%. The ex-dividend date of this dividend was Friday, June 21st.

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.