The European Equity Fund, Inc. (NYSE:EEA – Get Free Report)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.38 and traded as low as $10.34. The European Equity Fund shares last traded at $10.59, with a volume of 54,594 shares changing hands.
The European Equity Fund Stock Performance
The company has a 50 day moving average price of $10.38 and a 200 day moving average price of $10.62.
Hedge Funds Weigh In On The European Equity Fund
Several large investors have recently added to or reduced their stakes in EEA. Allspring Global Investments Holdings LLC lifted its stake in The European Equity Fund by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 795,122 shares of the financial services provider’s stock worth $8,619,000 after purchasing an additional 100,500 shares during the last quarter. Shaker Financial Services LLC lifted its stake in The European Equity Fund by 12.7% in the fourth quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider’s stock valued at $5,557,000 after buying an additional 56,564 shares during the last quarter. Citadel Advisors LLC bought a new stake in The European Equity Fund in the third quarter valued at $158,000. Spirepoint Private Client LLC bought a new stake in The European Equity Fund in the fourth quarter valued at $117,000. Finally, Wolverine Asset Management LLC bought a new stake in The European Equity Fund in the fourth quarter valued at $76,000. 51.94% of the stock is currently owned by institutional investors.
About The European Equity Fund
The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.
The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.
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