First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $22.53 and traded as high as $22.64. First Trust Enhanced Equity Income Fund shares last traded at $22.5850, with a volume of 21,122 shares.

First Trust Enhanced Equity Income Fund Trading Up 0.1%

The firm’s 50-day moving average price is $22.53 and its two-hundred day moving average price is $21.99.

First Trust Enhanced Equity Income Fund Announces Dividend

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

Institutional Trading of First Trust Enhanced Equity Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC acquired a new stake in shares of First Trust Enhanced Equity Income Fund during the 4th quarter valued at $25,000. Allied Private Wealth LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund in the 2nd quarter worth $26,000. Global Assets Advisory LLC acquired a new stake in shares of First Trust Enhanced Equity Income Fund during the first quarter worth $41,000. Axiom Investment Management LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at $118,000. Finally, PNC Financial Services Group Inc. raised its stake in First Trust Enhanced Equity Income Fund by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock valued at $164,000 after purchasing an additional 1,894 shares during the period.

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.