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

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 8,757 shares, a decrease of 39.6% from the August 31st total of 14,500 shares. Based on an average daily volume of 16,267 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Exeter Financial LLC grew its position in First Trust Enhanced Equity Income Fund by 0.8% during the first quarter. Exeter Financial LLC now owns 579,022 shares of the company’s stock valued at $11,812,000 after acquiring an additional 4,796 shares during the last quarter. Royal Bank of Canada grew its stake in shares of First Trust Enhanced Equity Income Fund by 6.2% in the first quarter. Royal Bank of Canada now owns 260,072 shares of the company’s stock worth $5,305,000 after purchasing an additional 15,241 shares during the last quarter. PMG Family Office LLC increased its holdings in First Trust Enhanced Equity Income Fund by 1.2% during the 1st quarter. PMG Family Office LLC now owns 57,847 shares of the company’s stock valued at $1,180,000 after purchasing an additional 678 shares during the period. Waverly Advisors LLC lifted its holdings in First Trust Enhanced Equity Income Fund by 7.0% in the 1st quarter. Waverly Advisors LLC now owns 48,892 shares of the company’s stock worth $997,000 after buying an additional 3,200 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund during the second quarter valued at approximately $736,000.

First Trust Enhanced Equity Income Fund Stock Up 0.6%

Shares of FFA stock opened at $22.32 on Wednesday. First Trust Enhanced Equity Income Fund has a 52-week low of $19.50 and a 52-week high of $23.82. The company has a 50-day simple moving average of $22.98 and a two-hundred day simple moving average of $22.33.

First Trust Enhanced Equity Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.4250 per share. This is a positive change from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $1.70 dividend on an annualized basis and a yield of 7.6%.

First Trust Enhanced Equity Income Fund Company Profile

First Trust Enhanced Equity Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFA. The fund is designed to provide investors with current income and long-term capital appreciation through an actively managed portfolio of equity securities.

The fund generally invests in dividend-paying common stocks of established companies across a range of industries. To enhance portfolio income, it may use an options strategy that includes writing covered call options on selected holdings.