First Trust Enhanced Equity Income Fund (NYSE:FFA) Shares Cross Above 50-Day Moving Average – Here’s What Happened

First Trust Enhanced Equity Income Fund (NYSE:FFA) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $22.53 and traded as high as $22.64. First Trust Enhanced Equity Income Fund shares last traded at $22.5850, with a volume of 21,122 shares traded.

First Trust Enhanced Equity Income Fund Stock Performance

The business has a 50-day simple moving average of $22.53 and a 200-day simple moving average of $21.99.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.3875 dividend. The ex-dividend date was Monday, June 22nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Trading of First Trust Enhanced Equity Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its stake in First Trust Enhanced Equity Income Fund by 2.7% during the second quarter. Invesco Ltd. now owns 374,565 shares of the company’s stock worth $7,671,000 after buying an additional 9,889 shares during the period. Raymond James Financial Inc. raised its stake in shares of First Trust Enhanced Equity Income Fund by 2.3% in the second quarter. Raymond James Financial Inc. now owns 253,106 shares of the company’s stock valued at $5,184,000 after acquiring an additional 5,602 shares during the period. Creative Planning raised its stake in shares of 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. Bank of America Corp DE lifted its holdings in shares of First Trust Enhanced Equity Income Fund by 20.1% in the 3rd quarter. Bank of America Corp DE now owns 18,680 shares of the company’s stock worth $402,000 after acquiring an additional 3,127 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of First Trust Enhanced Equity Income Fund by 2.2% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 25,257 shares of the company’s stock worth $544,000 after acquiring an additional 533 shares during the last quarter.

First Trust Enhanced Equity Income Fund Company Profile

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.