First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.53 and traded as high as $22.64. First Trust Enhanced Equity Income Fund shares last traded at $22.5850, with a volume of 21,122 shares traded.

First Trust Enhanced Equity Income Fund Price Performance

The company has a 50-day simple moving average of $22.53 and a two-hundred day simple moving average of $21.99.

First Trust Enhanced Equity Income Fund Announces Dividend

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

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in First Trust Enhanced Equity Income Fund by 2.7% in the 2nd quarter. Invesco Ltd. now owns 374,565 shares of the company’s stock valued at $7,671,000 after acquiring an additional 9,889 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of First Trust Enhanced Equity Income Fund by 2.3% during the 2nd quarter. Raymond James Financial Inc. now owns 253,106 shares of the company’s stock worth $5,184,000 after purchasing an additional 5,602 shares during the last quarter. Creative Planning grew its position in shares of First Trust Enhanced Equity Income Fund by 2.5% in the third quarter. Creative Planning now owns 79,395 shares of the company’s stock valued at $1,709,000 after purchasing an additional 1,935 shares in the last quarter. Bank of America Corp DE grew its position in shares of First Trust Enhanced Equity Income Fund by 20.1% in the third quarter. Bank of America Corp DE now owns 18,680 shares of the company’s stock valued at $402,000 after purchasing an additional 3,127 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of First Trust Enhanced Equity Income Fund by 2.2% in the third quarter. Kestra Private Wealth Services LLC now owns 25,257 shares of the company’s stock valued at $544,000 after purchasing an additional 533 shares during the last quarter.

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.