Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Sees Significant Decrease in Short Interest

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totaling 25,138 shares, a decline of 53.9% from the July 15th total of 54,584 shares. Based on an average daily volume of 64,498 shares, the days-to-cover ratio is currently 0.4 days.

Eaton Vance Enhanced Equity Income Fund Stock Down 0.9%

Shares of EOI stock traded down $0.18 on Friday, hitting $20.12. 59,346 shares of the stock traded hands, compared to its average volume of 80,684. Eaton Vance Enhanced Equity Income Fund has a 52 week low of $18.03 and a 52 week high of $21.58. The firm has a 50 day simple moving average of $19.70 and a two-hundred day simple moving average of $19.82.

Eaton Vance Enhanced Equity Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.1338 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 8.0%.

Insiders Place Their Bets

In other news, Portfolio Manager Charles Gaffney purchased 25,000 shares of the company’s stock in a transaction on Monday, July 13th. The stock was acquired at an average cost of $20.11 per share, for a total transaction of $502,750.00. Following the completion of the transaction, the portfolio manager directly owned 25,000 shares in the company, valued at $502,750. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Eaton Vance Enhanced Equity Income Fund

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its position in shares of 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 purchasing an additional 7,608 shares in the last quarter. Fifth Third Bancorp purchased a new position in Eaton Vance Enhanced Equity Income Fund in the 1st quarter worth approximately $28,000. OxenFree Capital LLC lifted its holdings in Eaton Vance Enhanced Equity Income Fund by 15.0% in the 2nd quarter. OxenFree Capital LLC now owns 92,825 shares of the company’s stock worth $1,834,000 after purchasing an additional 12,114 shares in the last quarter. David J Yvars Group boosted its stake in Eaton Vance Enhanced Equity Income Fund by 54.3% in the 2nd quarter. David J Yvars Group now owns 33,185 shares of the company’s stock worth $652,000 after purchasing an additional 11,685 shares during the period. Finally, Axiom Investment Management LLC bought a new position in Eaton Vance Enhanced Equity Income Fund in the 1st quarter worth approximately $114,000.

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.