First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Crosses Above 50 Day Moving Average – What’s Next?

Shares of First Trust Enhanced Equity Income Fund (NYSE:FFA) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $22.55 and traded as high as $22.78. First Trust Enhanced Equity Income Fund shares last traded at $22.70, with a volume of 14,253 shares changing hands.

First Trust Enhanced Equity Income Fund Stock Down 0.3%

The stock’s fifty day simple moving average is $22.55 and its 200-day simple moving average is $21.97.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.3875 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Monday, June 22nd.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allied Private Wealth LLC bought a new position in shares of First Trust Enhanced Equity Income Fund in the second quarter worth $26,000. Axiom Investment Management LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund in the 1st quarter worth approximately $118,000. Bank of America Corp DE lifted its position in shares of First Trust Enhanced Equity Income Fund by 6.1% during the 1st 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 during the last quarter. Royal Bank of Canada lifted its holdings in shares of First Trust Enhanced Equity Income Fund by 6.2% during the first quarter. Royal Bank of Canada now owns 260,072 shares of the company’s stock valued at $5,305,000 after purchasing an additional 15,241 shares during the last quarter. Finally, Waverly Advisors LLC lifted its stake in First Trust Enhanced Equity Income Fund by 7.0% during the first quarter. Waverly Advisors LLC now owns 48,892 shares of the company’s stock valued at $997,000 after buying an additional 3,200 shares in the last quarter.

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.