First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $22.11 and traded as high as $22.54. First Trust Enhanced Equity Income Fund shares last traded at $22.28, with a volume of 17,049 shares.

First Trust Enhanced Equity Income Fund Stock Down 0.6%

The firm’s fifty day moving average price is $22.11 and its 200-day moving average price is $21.81.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.3875 dividend. The ex-dividend date is Monday, June 22nd. This represents a $1.55 annualized dividend and a yield of 7.0%.

Institutional Trading of First Trust Enhanced Equity Income Fund

Several large investors have recently added to or reduced their stakes in the stock. Axiom Investment Management LLC bought a new stake in First Trust Enhanced Equity Income Fund in the first quarter valued at $118,000. Bank of America Corp DE boosted its holdings in First Trust Enhanced Equity Income Fund by 6.1% in the first quarter. Bank of America Corp DE now owns 20,328 shares of the company’s stock valued at $415,000 after acquiring an additional 1,176 shares in the last quarter. Royal Bank of Canada boosted its holdings in 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 valued at $5,305,000 after acquiring an additional 15,241 shares in the last quarter. Waverly Advisors LLC boosted its holdings in First Trust Enhanced Equity Income Fund by 7.0% in the first quarter. Waverly Advisors LLC now owns 48,892 shares of the company’s stock valued at $997,000 after acquiring an additional 3,200 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in First Trust Enhanced Equity Income Fund by 30.8% in the first quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock valued at $164,000 after acquiring an additional 1,894 shares in the last quarter.

About First Trust Enhanced Equity Income Fund

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.