First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Up 205.9% in April

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 16,713 shares, an increase of 205.9% from the March 31st total of 5,463 shares. Based on an average daily volume of 36,463 shares, the days-to-cover ratio is currently 0.5 days.

First Trust Enhanced Equity Income Fund Price Performance

FFA stock traded up $0.20 during midday trading on Friday, reaching $22.18. The stock had a trading volume of 29,826 shares, compared to its average volume of 30,757. The business has a fifty day simple moving average of $21.29 and a two-hundred day simple moving average of $21.59. First Trust Enhanced Equity Income Fund has a twelve month low of $18.38 and a twelve month high of $22.31.

First Trust Enhanced Equity Income Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were given a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, March 20th.

Institutional Trading of First Trust Enhanced Equity Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exeter Financial LLC increased its position in First Trust Enhanced Equity Income Fund by 0.8% in the first quarter. Exeter Financial LLC now owns 579,022 shares of the company’s stock worth $11,812,000 after purchasing an additional 4,796 shares during the period. Wells Fargo & Company MN increased its position in First Trust Enhanced Equity Income Fund by 1.0% in the fourth quarter. Wells Fargo & Company MN now owns 509,613 shares of the company’s stock worth $11,222,000 after purchasing an additional 5,162 shares during the period. Invesco Ltd. increased its position in First Trust Enhanced Equity Income Fund by 8.7% in the fourth quarter. Invesco Ltd. now owns 415,134 shares of the company’s stock worth $9,141,000 after purchasing an additional 33,158 shares during the period. Shaker Financial Services LLC increased its position in First Trust Enhanced Equity Income Fund by 16.8% in the fourth quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock worth $6,310,000 after purchasing an additional 41,233 shares during the period. Finally, UBS Group AG increased its position in First Trust Enhanced Equity Income Fund by 1.3% in the fourth quarter. UBS Group AG now owns 276,052 shares of the company’s stock worth $6,079,000 after purchasing an additional 3,556 shares during the period.

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.