First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Update

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 1,973 shares, a drop of 54.1% from the May 31st total of 4,297 shares. Based on an average daily trading volume, of 31,490 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its stake in First Trust Enhanced Equity Income Fund by 2.7% during the second quarter. Invesco Ltd. now owns 374,565 shares of the company’s stock worth $7,671,000 after acquiring an additional 9,889 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of First Trust Enhanced Equity Income Fund by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 253,106 shares of the company’s stock valued at $5,184,000 after purchasing an additional 5,602 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter worth $172,000. Creative Planning increased its position in shares of First Trust Enhanced Equity Income Fund by 2.5% during the 3rd quarter. Creative Planning now owns 79,395 shares of the company’s stock worth $1,709,000 after purchasing an additional 1,935 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in First Trust Enhanced Equity Income Fund by 20.1% in the third quarter. Bank of America Corp DE now owns 18,680 shares of the company’s stock valued at $402,000 after buying an additional 3,127 shares during the last quarter.

First Trust Enhanced Equity Income Fund Stock Performance

NYSE FFA traded up $0.26 on Tuesday, reaching $22.25. 81,010 shares of the company were exchanged, compared to its average volume of 29,846. The business’s fifty day moving average price is $22.43 and its 200 day moving average price is $21.87. First Trust Enhanced Equity Income Fund has a fifty-two week low of $19.50 and a fifty-two week high of $23.24.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Monday, June 22nd.

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.