Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Sees Significant Increase in Short Interest

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 55,898 shares, a growth of 129.7% from the August 15th total of 24,332 shares. Based on an average trading volume of 57,674 shares, the days-to-cover ratio is currently 1.0 days.

Insider Activity

In other Eaton Vance Enhanced Equity Income Fund news, Portfolio Manager Charles Gaffney purchased 25,000 shares of the stock in a transaction dated Monday, July 13th. The shares were bought at an average cost of $20.11 per share, with a total value of $502,750.00. Following the completion of the acquisition, the portfolio manager owned 25,000 shares of the company’s stock, valued at approximately $502,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Eaton Vance Enhanced Equity Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bullseye Investment Management LLC acquired a new position in shares of Eaton Vance Enhanced Equity Income Fund during the 2nd quarter valued at $26,000. HighTower Advisors LLC lifted its holdings in shares of Eaton Vance Enhanced Equity Income Fund by 37.5% in the second quarter. HighTower Advisors LLC now owns 65,479 shares of the company’s stock valued at $1,337,000 after buying an additional 17,870 shares during the period. Readystate Asset Management LP acquired a new stake in shares of Eaton Vance Enhanced Equity Income Fund in the second quarter valued at $713,000. Ameritas Advisory Services LLC boosted its stake in Eaton Vance Enhanced Equity Income Fund by 36.1% during the second quarter. Ameritas Advisory Services LLC now owns 73,852 shares of the company’s stock valued at $1,452,000 after buying an additional 19,590 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Eaton Vance Enhanced Equity Income Fund by 40.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 57,356 shares of the company’s stock worth $1,148,000 after acquiring an additional 16,405 shares during the period.

Eaton Vance Enhanced Equity Income Fund Stock Performance

EOI stock opened at $19.73 on Monday. The firm’s 50-day moving average is $19.93 and its two-hundred day moving average is $19.73. Eaton Vance Enhanced Equity Income Fund has a 52 week low of $18.03 and a 52 week high of $21.55.

Eaton Vance Enhanced Equity Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.1338 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 8.1%.

Eaton Vance Enhanced Equity Income Fund Company Profile

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.