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

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 8,757 shares, a decrease of 39.6% from the August 31st total of 14,500 shares. Based on an average daily trading volume, of 16,267 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in First Trust Enhanced Equity Income Fund in the 2nd quarter worth approximately $480,000. Sanctuary Advisors LLC acquired a new stake in First Trust Enhanced Equity Income Fund during the second quarter worth about $293,000. Global Retirement Partners LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund during the 2nd quarter valued at approximately $736,000. Allied Private Wealth LLC purchased a new stake in shares of First Trust Enhanced Equity Income Fund during the 2nd quarter worth about $26,000. Finally, Axiom Investment Management LLC purchased a new position in First Trust Enhanced Equity Income Fund during the first quarter worth approximately $118,000.

First Trust Enhanced Equity Income Fund Stock Performance

Shares of FFA stock traded down $0.13 on Friday, hitting $22.07. The stock had a trading volume of 34,729 shares, compared to its average volume of 28,259. The business has a 50 day moving average price of $22.97 and a 200 day moving average price of $22.35. First Trust Enhanced Equity Income Fund has a one year low of $19.50 and a one year high of $23.82.

First Trust Enhanced Equity Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were given a dividend of $0.4250 per share. This is a positive change from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $1.70 dividend on an annualized basis and a yield of 7.7%.

First Trust Enhanced Equity Income Fund Company Profile

First Trust Enhanced Equity Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFA. The fund is designed to provide investors with current income and long-term capital appreciation through an actively managed portfolio of equity securities.

The fund generally invests in dividend-paying common stocks of established companies across a range of industries. To enhance portfolio income, it may use an options strategy that includes writing covered call options on selected holdings.