First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Up 1,237.7% in July

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 24,038 shares, a growth of 1,237.7% from the June 30th total of 1,797 shares. Based on an average daily trading volume, of 24,216 shares, the days-to-cover ratio is presently 1.0 days.

First Trust Enhanced Equity Income Fund Stock Performance

NYSE:FFA traded down $0.07 on Friday, reaching $22.38. The stock had a trading volume of 27,892 shares, compared to its average volume of 28,845. The company has a 50-day moving average of $22.55 and a 200 day moving average of $21.97. First Trust Enhanced Equity Income Fund has a 12-month low of $19.50 and a 12-month high of $23.24.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.3875 per share. This represents a $1.55 annualized dividend and a dividend 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 stock. Shaker Financial Services LLC raised its stake in shares of First Trust Enhanced Equity Income Fund by 16.8% in the 4th quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock valued at $6,310,000 after purchasing an additional 41,233 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of First Trust Enhanced Equity Income Fund during the fourth quarter worth about $844,000. Invesco Ltd. grew its stake in First Trust Enhanced Equity Income Fund by 8.7% in the fourth quarter. Invesco Ltd. now owns 415,134 shares of the company’s stock worth $9,141,000 after purchasing an additional 33,158 shares in the last quarter. Aurora Private Wealth Inc. acquired a new position in First Trust Enhanced Equity Income Fund in the fourth quarter worth about $534,000. Finally, Global Retirement Partners LLC raised its stake in First Trust Enhanced Equity Income Fund by 2,543.3% during the fourth quarter. Global Retirement Partners LLC now owns 24,318 shares of the company’s stock valued at $535,000 after buying an additional 23,398 shares in the last quarter.

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.