First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Update

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 8,757 shares, a drop of 39.6% from the August 31st total of 14,500 shares. Based on an average daily trading volume, of 16,267 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of First Trust Enhanced Equity Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of FFA. Bank of America Corp DE purchased a new stake in shares of First Trust Enhanced Equity Income Fund in the 2nd quarter worth approximately $480,000. Sanctuary Advisors LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund in the 2nd quarter valued at about $293,000. Global Retirement Partners LLC purchased a new stake in First Trust Enhanced Equity Income Fund during the second quarter valued at approximately $736,000. Allied Private Wealth LLC purchased a new position in First Trust Enhanced Equity Income Fund in the second quarter worth $26,000. Finally, Axiom Investment Management LLC acquired a new stake in shares of First Trust Enhanced Equity Income Fund in the 1st quarter worth $118,000.

First Trust Enhanced Equity Income Fund Price Performance

NYSE:FFA opened at $22.32 on Wednesday. First Trust Enhanced Equity Income Fund has a 52 week low of $19.50 and a 52 week high of $23.82. The business’s 50-day simple moving average is $22.98 and its two-hundred day simple moving average is $22.33.

First Trust Enhanced Equity Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd will be given a dividend of $0.4250 per share. This represents a $1.70 annualized dividend and a yield of 7.6%. This is an increase from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875. The ex-dividend date is Tuesday, September 22nd.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFA. The fund is designed to provide investors with current income and long-term capital appreciation through an actively managed portfolio of equity securities.

The fund generally invests in dividend-paying common stocks of established companies across a range of industries. To enhance portfolio income, it may use an options strategy that includes writing covered call options on selected holdings.