Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Short Interest Up 89.7% in May

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 7,510 shares, a growth of 89.7% from the May 14th total of 3,958 shares. Based on an average daily trading volume, of 68,347 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Eaton Vance Enhanced Equity Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in Eaton Vance Enhanced Equity Income Fund in the first quarter worth $28,000. Eagle Bay Advisors LLC purchased a new stake in Eaton Vance Enhanced Equity Income Fund in the fourth quarter worth $31,000. Kestra Advisory Services LLC purchased a new stake in Eaton Vance Enhanced Equity Income Fund in the fourth quarter worth $67,000. JPMorgan Chase & Co. grew its stake in Eaton Vance Enhanced Equity Income Fund by 15.7% in the third quarter. JPMorgan Chase & Co. now owns 4,428 shares of the company’s stock worth $93,000 after purchasing an additional 600 shares during the period. Finally, Axiom Investment Management LLC purchased a new stake in Eaton Vance Enhanced Equity Income Fund in the first quarter worth $114,000.

Eaton Vance Enhanced Equity Income Fund Price Performance

Shares of Eaton Vance Enhanced Equity Income Fund stock traded down $0.09 during midday trading on Tuesday, reaching $19.51. 63,153 shares of the company’s stock traded hands, compared to its average volume of 83,722. The stock has a 50 day moving average of $19.74 and a 200-day moving average of $19.98. Eaton Vance Enhanced Equity Income Fund has a 12 month low of $18.03 and a 12 month high of $21.58.

Eaton Vance Enhanced Equity Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.1338 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Monday, June 15th.

About Eaton Vance Enhanced Equity Income Fund

The Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of long-term capital appreciation. The fund invests primarily in dividend-paying common stocks of U.S. companies and may also hold preferred stocks and other equity securities. To enhance income potential, the fund employs a covered-call strategy by selling call options on a portion of its equity portfolio.

Under normal market conditions, the fund’s portfolio managers select large- and mid-capitalization equities with the potential for dividend growth and price appreciation.