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

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 54,584 shares, an increase of 169.1% from the June 30th total of 20,281 shares. Based on an average daily volume of 56,936 shares, the short-interest ratio is currently 1.0 days.

Eaton Vance Enhanced Equity Income Fund Stock Performance

Shares of NYSE EOI traded down $0.05 during midday trading on Monday, hitting $19.65. 62,385 shares of the company’s stock were exchanged, compared to its average volume of 79,982. The stock’s 50 day moving average price is $19.65 and its 200-day moving average price is $19.90. Eaton Vance Enhanced Equity Income Fund has a twelve month low of $18.03 and a twelve month high of $21.58.

Eaton Vance Enhanced Equity Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.1338 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Wednesday, July 15th.

Insider Buying and Selling

In other news, Portfolio Manager Charles Gaffney bought 25,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was purchased at an average price of $20.11 per share, for a total transaction of $502,750.00. Following the transaction, the portfolio manager owned 25,000 shares in the company, valued at approximately $502,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Eaton Vance Enhanced Equity Income Fund

Several institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new position in Eaton Vance Enhanced Equity Income Fund during the 1st quarter valued at about $28,000. Eagle Bay Advisors LLC acquired a new stake in shares of Eaton Vance Enhanced Equity Income Fund in the 4th quarter worth approximately $31,000. Kestra Advisory Services LLC acquired a new stake in shares of Eaton Vance Enhanced Equity Income Fund in the 4th quarter worth approximately $67,000. JPMorgan Chase & Co. boosted its holdings in shares of Eaton Vance Enhanced Equity Income Fund by 15.7% in the third quarter. JPMorgan Chase & Co. now owns 4,428 shares of the company’s stock valued at $93,000 after acquiring an additional 600 shares in the last quarter. Finally, Axiom Investment Management LLC bought a new position in shares of Eaton Vance Enhanced Equity Income Fund in the first quarter valued at 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.