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

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 54,584 shares, an increase of 169.1% from the June 30th total of 20,281 shares. Based on an average daily volume of 56,936 shares, the short-interest ratio is currently 1.0 days.

Eaton Vance Enhanced Equity Income Fund Stock Down 0.8%

Shares of Eaton Vance Enhanced Equity Income Fund stock traded down $0.16 during trading on Wednesday, hitting $19.44. 12,875 shares of the stock traded hands, compared to its average volume of 79,412. The company has a fifty day moving average price of $19.66 and a two-hundred day moving average price of $19.89. Eaton Vance Enhanced Equity Income Fund has a twelve month low of $18.03 and a twelve month high of $21.58.

Eaton Vance Enhanced Equity Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $0.1338 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 8.3%.

Insider Buying and Selling

In other news, Portfolio Manager Charles Gaffney bought 25,000 shares of the stock in a transaction on Monday, July 13th. The shares were purchased at an average price of $20.11 per share, for a total transaction of $502,750.00. Following the completion of the purchase, the portfolio manager directly 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Eaton Vance Enhanced Equity Income Fund

Large investors have recently added to or reduced their stakes in the business. Focus Partners Wealth bought a new position in shares of Eaton Vance Enhanced Equity Income Fund during the 4th quarter valued at $16,037,000. Bank of America Corp DE boosted its holdings in Eaton Vance Enhanced Equity Income Fund by 2.6% in the third quarter. Bank of America Corp DE now owns 590,245 shares of the company’s stock worth $12,395,000 after purchasing an additional 15,180 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Eaton Vance Enhanced Equity Income Fund by 3.8% in the fourth quarter. Wells Fargo & Company MN now owns 513,967 shares of the company’s stock worth $10,567,000 after purchasing an additional 18,910 shares in the last quarter. Invesco Ltd. increased its position in Eaton Vance Enhanced Equity Income Fund by 6.4% during the fourth quarter. Invesco Ltd. now owns 459,475 shares of the company’s stock worth $9,447,000 after buying an additional 27,719 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Eaton Vance Enhanced Equity Income Fund by 2.3% during the first quarter. Royal Bank of Canada now owns 336,433 shares of the company’s stock worth $6,318,000 after buying an additional 7,608 shares during 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.