First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Down 54.5% in July

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 10,936 shares, a decrease of 54.5% from the July 15th total of 24,038 shares. Based on an average daily volume of 19,854 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund in the 4th quarter worth approximately $25,000. Allied Private Wealth LLC purchased a new position in First Trust Enhanced Equity Income Fund in the second quarter valued at approximately $26,000. Global Assets Advisory LLC bought a new position in First Trust Enhanced Equity Income Fund during the first quarter valued at $41,000. Axiom Investment Management LLC bought a new position in First Trust Enhanced Equity Income Fund during the first quarter valued at $118,000. Finally, PNC Financial Services Group Inc. increased its position in First Trust Enhanced Equity Income Fund by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock worth $164,000 after buying an additional 1,894 shares during the last quarter.

First Trust Enhanced Equity Income Fund Trading Down 0.1%

Shares of NYSE FFA traded down $0.02 during mid-day trading on Friday, reaching $23.63. 65,214 shares of the company’s stock were exchanged, compared to its average volume of 29,163. The firm has a 50-day moving average price of $22.62 and a two-hundred day moving average price of $22.09. First Trust Enhanced Equity Income Fund has a 52 week low of $19.50 and a 52 week high of $23.82.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a $0.3875 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $1.55 annualized dividend and a yield of 6.6%.

First Trust Enhanced Equity Income Fund Company Profile

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.