The European Equity Fund (NYSE:EEA) Stock Crosses Below 50-Day Moving Average – Time to Sell?

The European Equity Fund, Inc. (NYSE:EEA) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.78 and traded as low as $10.77. The European Equity Fund shares last traded at $10.86, with a volume of 13,181 shares trading hands.

The European Equity Fund Stock Performance

The firm’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $10.35.

Institutional Trading of The European Equity Fund

Several hedge funds have recently added to or reduced their stakes in the business. Ancora Advisors LLC bought a new position in shares of The European Equity Fund during the first quarter valued at about $182,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of The European Equity Fund by 33.4% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 22,914 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 5,739 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in The European Equity Fund by 23.5% during the 1st quarter. Wolverine Asset Management LLC now owns 59,898 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 11,386 shares during the period. Almitas Capital LLC grew its position in The European Equity Fund by 297.7% during the 1st quarter. Almitas Capital LLC now owns 63,976 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 47,889 shares during the last quarter. Finally, Shaker Financial Services LLC grew its position in The European Equity Fund by 30.2% during the 1st quarter. Shaker Financial Services LLC now owns 392,572 shares of the financial services provider’s stock worth $3,572,000 after acquiring an additional 91,113 shares during the last quarter. 51.94% of the stock is owned by institutional investors.

About The European Equity Fund

The European Equity Fund, Inc is a closed ended equity mutual fund launched by Deutsche Investment Management Americas Inc The fund is managed by Deutsche Asset Management International GmbH. It invests in the public equity markets of Europe. The fund seeks to invest in the stocks of companies operating across diversified sectors.