The European Equity Fund (NYSE:EEA) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Shares of The European Equity Fund, Inc. (NYSE:EEA) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $10.84 and traded as high as $11.20. The European Equity Fund shares last traded at $11.1460, with a volume of 22,330 shares changing hands.

The European Equity Fund Trading Up 0.6%

The business’s 50-day simple moving average is $10.86 and its two-hundred day simple moving average is $10.67.

The European Equity Fund Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, June 29th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.2199 per share. This represents a dividend yield of 414.0%. This is a boost from The European Equity Fund’s previous dividend of $0.17. The ex-dividend date was Tuesday, May 26th.

Hedge Funds Weigh In On The European Equity Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new position in shares of The European Equity Fund in the 4th quarter valued at about $76,000. Spirepoint Private Client LLC bought a new stake in The European Equity Fund in the fourth quarter worth approximately $117,000. Citadel Advisors LLC bought a new stake in The European Equity Fund in the third quarter worth approximately $158,000. Blue Bell Private Wealth Management LLC increased its holdings in The European Equity Fund by 18.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 27,146 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 4,232 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its stake in The European Equity Fund by 12.7% in the fourth quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider’s stock valued at $5,557,000 after buying an additional 56,564 shares during the period. Institutional investors and hedge funds own 51.94% of the company’s stock.

The European Equity Fund Company Profile

The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.

The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.