First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Short Interest Drops 39.6%

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 8,757 shares, a decline of 39.6% from the August 31st total of 14,500 shares. Based on an average daily trading volume, of 16,267 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of First Trust Enhanced Equity Income Fund in the second quarter worth about $736,000. Bank of America Corp DE purchased a new position in First Trust Enhanced Equity Income Fund during the 2nd quarter valued at approximately $480,000. Royal Bank of Canada grew its holdings in First Trust Enhanced Equity Income Fund by 6.2% during the 1st quarter. Royal Bank of Canada now owns 260,072 shares of the company’s stock valued at $5,305,000 after buying an additional 15,241 shares in the last quarter. Fifth Third Bancorp bought a new stake in First Trust Enhanced Equity Income Fund in the 1st quarter worth approximately $287,000. Finally, Sanctuary Advisors LLC bought a new stake in First Trust Enhanced Equity Income Fund in the 2nd quarter worth approximately $293,000.

First Trust Enhanced Equity Income Fund Price Performance

Shares of NYSE:FFA traded down $0.02 during midday trading on Thursday, reaching $22.22. 34,953 shares of the company were exchanged, compared to its average volume of 28,226. The business’s fifty day moving average is $22.97 and its two-hundred day moving average is $22.34. First Trust Enhanced Equity Income Fund has a one year low of $19.50 and a one year high of $23.82.

First Trust Enhanced Equity Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were paid a $0.4250 dividend. This represents a $1.70 annualized dividend and a yield of 7.7%. The ex-dividend date was Tuesday, September 22nd. This is an increase from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFA. The fund is designed to provide investors with current income and long-term capital appreciation through an actively managed portfolio of equity securities.

The fund generally invests in dividend-paying common stocks of established companies across a range of industries. To enhance portfolio income, it may use an options strategy that includes writing covered call options on selected holdings.