Short Interest in First Trust Enhanced Equity Income Fund (NYSE:FFA) Drops By 23.6%

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 8,521 shares, a drop of 23.6% from the January 15th total of 11,152 shares. Based on an average daily volume of 30,551 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 30,551 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of First Trust Enhanced Equity Income Fund in the fourth quarter valued at approximately $228,000. Stifel Financial Corp acquired a new position in First Trust Enhanced Equity Income Fund during the 4th quarter worth $224,000. Wells Fargo & Company MN boosted its position in First Trust Enhanced Equity Income Fund by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 509,613 shares of the company’s stock valued at $11,222,000 after buying an additional 5,162 shares during the last quarter. LPL Financial LLC increased its stake in shares of First Trust Enhanced Equity Income Fund by 1.6% in the 4th quarter. LPL Financial LLC now owns 176,075 shares of the company’s stock valued at $3,877,000 after buying an additional 2,855 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of First Trust Enhanced Equity Income Fund in the 4th quarter valued at $226,000.

First Trust Enhanced Equity Income Fund Price Performance

First Trust Enhanced Equity Income Fund stock traded down $0.07 on Friday, reaching $21.88. The company’s stock had a trading volume of 30,143 shares, compared to its average volume of 29,915. The business’s fifty day moving average price is $21.89 and its 200 day moving average price is $21.57. First Trust Enhanced Equity Income Fund has a twelve month low of $15.00 and a twelve month high of $22.31.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a dividend of $0.3875 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 7.1%.

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.