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

First Trust Enhanced Equity Income Fund (NYSE:FFA) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 8,521 shares, a drop of 23.6% from the January 15th total of 11,152 shares. Based on an average daily trading volume, of 30,551 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 30,551 shares, the short-interest ratio is presently 0.3 days.

First Trust Enhanced Equity Income Fund Stock Down 0.3%

Shares of FFA traded down $0.07 during trading hours on Monday, reaching $21.88. 30,143 shares of the company traded hands, compared to its average volume of 29,915. The stock has a fifty day simple moving average of $21.89 and a 200 day simple moving average of $21.58. First Trust Enhanced Equity Income Fund has a fifty-two week low of $15.00 and a fifty-two week high of $22.31.

First Trust Enhanced Equity Income Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a dividend of $0.3875 per share. The ex-dividend date was Monday, December 22nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 7.1%.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Several institutional investors and hedge funds have recently modified their holdings of FFA. CWM LLC grew its stake in First Trust Enhanced Equity Income Fund by 17.1% in the 2nd quarter. CWM LLC now owns 17,149 shares of the company’s stock worth $351,000 after acquiring an additional 2,500 shares during the period. D.A. Davidson & CO. grew its position in shares of First Trust Enhanced Equity Income Fund by 27.3% in the second quarter. D.A. Davidson & CO. now owns 26,671 shares of the company’s stock valued at $546,000 after purchasing an additional 5,715 shares during the period. Envestnet Asset Management Inc. grew its position in shares of First Trust Enhanced Equity Income Fund by 16.9% in the second quarter. Envestnet Asset Management Inc. now owns 79,699 shares of the company’s stock valued at $1,632,000 after purchasing an additional 11,510 shares during the period. Wolverine Asset Management LLC increased its stake in First Trust Enhanced Equity Income Fund by 121.4% in the second quarter. Wolverine Asset Management LLC now owns 93,382 shares of the company’s stock valued at $1,912,000 after purchasing an additional 51,196 shares during the last quarter. Finally, Shaker Financial Services LLC lifted its position in First Trust Enhanced Equity Income Fund by 96.8% during the second quarter. Shaker Financial Services LLC now owns 179,995 shares of the company’s stock worth $3,686,000 after buying an additional 88,539 shares during the period.

About First Trust Enhanced Equity Income Fund

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.