First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Large Increase in Short Interest

First Trust Enhanced Equity Income Fund (NYSE:FFA) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 11,152 shares, a growth of 129.1% from the December 31st total of 4,867 shares. Based on an average daily trading volume, of 28,015 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 28,015 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shaker Financial Services LLC raised its holdings in First Trust Enhanced Equity Income Fund by 96.8% during the second quarter. Shaker Financial Services LLC now owns 179,995 shares of the company’s stock worth $3,686,000 after acquiring an additional 88,539 shares in the last quarter. PMG Family Office LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter worth approximately $1,230,000. Cornerstone Advisors LLC boosted its holdings in shares of First Trust Enhanced Equity Income Fund by 156.3% in the 2nd quarter. Cornerstone Advisors LLC now owns 85,944 shares of the company’s stock valued at $1,760,000 after buying an additional 52,417 shares during the last quarter. Wolverine Asset Management LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 121.4% in the second quarter. Wolverine Asset Management LLC now owns 93,382 shares of the company’s stock valued at $1,912,000 after buying an additional 51,196 shares in the last quarter. Finally, Exeter Financial LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 2.8% in the fourth quarter. Exeter Financial LLC now owns 574,226 shares of the company’s stock valued at $12,644,000 after buying an additional 15,837 shares in the last quarter.

First Trust Enhanced Equity Income Fund Trading Down 0.3%

NYSE FFA traded down $0.06 during trading on Thursday, hitting $21.94. The stock had a trading volume of 25,098 shares, compared to its average volume of 29,942. First Trust Enhanced Equity Income Fund has a 12 month low of $15.00 and a 12 month high of $22.24. The company’s 50-day moving average price is $21.82 and its two-hundred day moving average price is $21.47.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a $0.3875 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 7.1%.

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.