Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Sees Large Growth in Short Interest

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

Eaton Vance Enhanced Equity Income Fund Price Performance

Shares of Eaton Vance Enhanced Equity Income Fund stock traded down $0.24 during trading on Tuesday, hitting $19.47. 63,959 shares of the company were exchanged, compared to its average volume of 77,985. Eaton Vance Enhanced Equity Income Fund has a 1-year low of $18.03 and a 1-year high of $21.44. The firm’s fifty day moving average price is $19.92 and its 200 day moving average price is $19.73.

Eaton Vance Enhanced Equity Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid 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 8.2%.

Insider Buying and Selling

In related news, Portfolio Manager Charles Gaffney acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average price of $20.11 per share, for a total transaction of $502,750.00. Following the completion of the acquisition, the portfolio manager owned 25,000 shares of the company’s stock, valued at $502,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Perigon Wealth Management LLC acquired a new stake in shares of Eaton Vance Enhanced Equity Income Fund during the second quarter worth about $273,000. Roman Butler Fullerton & Co. bought a new position in shares of Eaton Vance Enhanced Equity Income Fund during the 2nd quarter valued at about $6,298,000. Bryn Mawr Trust Advisors LLC acquired a new position in shares of Eaton Vance Enhanced Equity Income Fund in the 2nd quarter valued at approximately $246,000. Royal Bank of Canada grew its position in shares of Eaton Vance Enhanced Equity Income Fund by 2.3% in the 1st quarter. Royal Bank of Canada now owns 336,433 shares of the company’s stock valued at $6,318,000 after purchasing an additional 7,608 shares during the period. Finally, OxenFree Capital LLC increased its stake in Eaton Vance Enhanced Equity Income Fund by 15.0% during the 2nd quarter. OxenFree Capital LLC now owns 92,825 shares of the company’s stock worth $1,834,000 after purchasing an additional 12,114 shares in the last quarter.

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.