First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Large Increase in Short Interest

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 4,867 shares, an increase of 183.5% from the December 15th total of 1,717 shares. Based on an average daily trading volume, of 28,627 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 28,627 shares, the days-to-cover ratio is currently 0.2 days.

First Trust Enhanced Equity Income Fund Price Performance

FFA stock opened at $22.12 on Wednesday. First Trust Enhanced Equity Income Fund has a 12 month low of $15.00 and a 12 month high of $22.24. The firm has a 50 day moving average of $21.70 and a two-hundred day moving average of $21.37.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Monday, December 22nd.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Exeter Financial LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 2.8% in the fourth quarter. Exeter Financial LLC now owns 574,226 shares of the company’s stock worth $12,644,000 after acquiring an additional 15,837 shares during the last quarter. PMG Family Office LLC bought a new position in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter worth approximately $1,230,000. Kestra Private Wealth Services LLC lifted its position in shares of First Trust Enhanced Equity Income Fund by 2.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 25,257 shares of the company’s stock worth $544,000 after buying an additional 533 shares during the period. Bank of America Corp DE grew its position in First Trust Enhanced Equity Income Fund by 20.1% in the third quarter. Bank of America Corp DE now owns 18,680 shares of the company’s stock valued at $402,000 after acquiring an additional 3,127 shares during the period. Finally, Creative Planning grew its position in First Trust Enhanced Equity Income Fund by 2.5% in the third quarter. Creative Planning now owns 79,395 shares of the company’s stock valued at $1,709,000 after acquiring an additional 1,935 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.