Short Interest in The European Equity Fund, Inc. (NYSE:EEA) Rises By 285.4%

The European Equity Fund, Inc. (NYSE:EEA) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 5,407 shares, an increase of 285.4% from the May 31st total of 1,403 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 60,698 shares, the days-to-cover ratio is currently 0.1 days.

The European Equity Fund Stock Down 0.5%

Shares of NYSE:EEA traded down $0.05 during trading on Friday, reaching $10.78. The stock had a trading volume of 75,436 shares, compared to its average volume of 48,882. The European Equity Fund has a one year low of $9.62 and a one year high of $11.43. The firm’s 50-day simple moving average is $10.66 and its 200 day simple moving average is $10.62.

The European Equity Fund Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, June 29th. Investors of record on Tuesday, May 26th will be given a dividend of $0.2199 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This is a positive change from The European Equity Fund’s previous dividend of $0.17. This represents a yield of 414.0%.

Hedge Funds Weigh In On The European Equity Fund

A number of large investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new stake in shares of The European Equity Fund during the 3rd quarter valued at $158,000. Spirepoint Private Client LLC purchased a new position in The European Equity Fund during the 4th quarter worth $117,000. Shaker Financial Services LLC increased its position in The European Equity Fund by 12.7% during the 4th quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider’s stock valued at $5,557,000 after buying an additional 56,564 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in The European Equity Fund during the 4th quarter valued at about $76,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in The European Equity Fund by 18.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 27,146 shares of the financial services provider’s stock valued at $280,000 after buying an additional 4,232 shares during the last quarter. 51.94% of the stock is owned by institutional investors and hedge funds.

The European Equity Fund Company Profile

The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.

The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.