First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Crosses Below Fifty Day Moving Average – Time to Sell?

Shares of First Trust Enhanced Equity Income Fund (NYSE:FFAGet Free Report) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.42 and traded as low as $21.60. First Trust Enhanced Equity Income Fund shares last traded at $21.7410, with a volume of 18,090 shares trading hands.

First Trust Enhanced Equity Income Fund Price Performance

The stock’s 50-day moving average is $22.42 and its two-hundred day moving average is $21.86.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.3875 per share. The ex-dividend date is Monday, June 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 7.1%.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Hedge funds have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund during the fourth quarter worth approximately $25,000. Global Assets Advisory LLC bought a new position in First Trust Enhanced Equity Income Fund in the first quarter worth approximately $41,000. Axiom Investment Management LLC purchased a new position in First Trust Enhanced Equity Income Fund during the 1st quarter worth $118,000. PNC Financial Services Group Inc. increased its holdings 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 worth $164,000 after purchasing an additional 1,894 shares during the period. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of First Trust Enhanced Equity Income Fund in the 3rd quarter worth $172,000.

First Trust Enhanced Equity Income Fund Company Profile

(Get Free Report)

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.

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