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

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 12,700 shares, a growth of 568.4% from the November 30th total of 1,900 shares. Based on an average daily volume of 23,900 shares, the short-interest ratio is currently 0.5 days.

Insider Buying and Selling at First Trust Enhanced Equity Income Fund

In other news, insider James A. Bowen sold 4,003 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $21.01, for a total value of $84,103.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC lifted its holdings in shares of First Trust Enhanced Equity Income Fund by 2.0% during the third quarter. Integrated Wealth Concepts LLC now owns 73,307 shares of the company’s stock worth $1,491,000 after purchasing an additional 1,422 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter worth about $242,000. D.A. Davidson & CO. grew its position in shares of First Trust Enhanced Equity Income Fund by 62.9% during the 3rd quarter. D.A. Davidson & CO. now owns 18,749 shares of the company’s stock valued at $381,000 after acquiring an additional 7,239 shares during the period. Raymond James Trust N.A. increased its stake in shares of First Trust Enhanced Equity Income Fund by 4.5% in the 3rd quarter. Raymond James Trust N.A. now owns 17,425 shares of the company’s stock valued at $354,000 after purchasing an additional 750 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in First Trust Enhanced Equity Income Fund by 15.2% in the 3rd quarter. Cornerstone Advisors LLC now owns 14,985 shares of the company’s stock worth $305,000 after purchasing an additional 1,973 shares during the period.

First Trust Enhanced Equity Income Fund Stock Performance

Shares of NYSE:FFA traded down $0.23 during trading on Friday, hitting $20.49. 3,654 shares of the company’s stock were exchanged, compared to its average volume of 23,613. First Trust Enhanced Equity Income Fund has a 52-week low of $17.58 and a 52-week high of $21.24. The business’s 50-day simple moving average is $20.62 and its 200 day simple moving average is $20.11.

First Trust Enhanced Equity Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, December 20th. This represents a $1.40 annualized dividend and a dividend yield of 6.83%.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors.