First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Up 1,237.7% in July

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 24,038 shares, an increase of 1,237.7% from the June 30th total of 1,797 shares. Based on an average daily volume of 24,216 shares, the days-to-cover ratio is presently 1.0 days.

First Trust Enhanced Equity Income Fund Stock Performance

Shares of First Trust Enhanced Equity Income Fund stock traded down $0.07 during midday trading on Friday, hitting $22.38. The company had a trading volume of 27,892 shares, compared to its average volume of 28,845. First Trust Enhanced Equity Income Fund has a 52-week low of $19.50 and a 52-week high of $23.24. The company has a 50 day moving average of $22.55 and a 200 day moving average of $21.97.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend was Monday, June 22nd.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Several institutional investors and hedge funds have recently modified their holdings of FFA. Blue Bell Private Wealth Management LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the 4th quarter worth about $25,000. Allied Private Wealth LLC purchased a new stake in First Trust Enhanced Equity Income Fund during the 2nd quarter valued at about $26,000. Global Assets Advisory LLC bought a new stake in First Trust Enhanced Equity Income Fund during the 1st quarter valued at about $41,000. Axiom Investment Management LLC purchased a new position in First Trust Enhanced Equity Income Fund in the first quarter worth about $118,000. Finally, PNC Financial Services Group Inc. raised its holdings 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.

About First Trust Enhanced Equity Income Fund

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.