First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Down 42.5% in May

First Trust Enhanced Equity Income Fund (NYSE:FFA) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 4,297 shares, a drop of 42.5% from the May 14th total of 7,470 shares. Based on an average trading volume of 29,084 shares, the short-interest ratio is currently 0.1 days.

First Trust Enhanced Equity Income Fund Stock Performance

FFA stock opened at $22.43 on Friday. First Trust Enhanced Equity Income Fund has a one year low of $19.50 and a one year high of $23.24. The company has a fifty day moving average of $22.19 and a 200-day moving average of $21.83.

First Trust Enhanced Equity Income Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.3875 dividend. This represents a $1.55 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Monday, June 22nd.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

A number of large investors have recently made changes to their positions in FFA. Blue Bell Private Wealth Management LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the 4th quarter valued at about $25,000. Global Assets Advisory LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at about $41,000. Axiom Investment Management LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at about $118,000. PNC Financial Services Group Inc. increased its holdings in shares of First Trust Enhanced Equity Income Fund by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock valued at $164,000 after purchasing an additional 1,894 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the 3rd quarter valued at about $172,000.

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.