Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Sees Large Decline in Short Interest

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 3,958 shares, a decline of 45.8% from the April 30th total of 7,302 shares. Based on an average trading volume of 76,582 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Eaton Vance Enhanced Equity Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in Eaton Vance Enhanced Equity Income Fund in the 1st quarter valued at $28,000. Eagle Bay Advisors LLC bought a new stake in Eaton Vance Enhanced Equity Income Fund in the 4th quarter valued at $31,000. Kestra Advisory Services LLC bought a new stake in Eaton Vance Enhanced Equity Income Fund in the 4th quarter valued at $67,000. JPMorgan Chase & Co. boosted its stake in Eaton Vance Enhanced Equity Income Fund by 15.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,428 shares of the company’s stock valued at $93,000 after purchasing an additional 600 shares during the period. Finally, Axiom Investment Management LLC bought a new stake in Eaton Vance Enhanced Equity Income Fund in the 1st quarter valued at $114,000.

Eaton Vance Enhanced Equity Income Fund Price Performance

EOI stock opened at $20.06 on Monday. Eaton Vance Enhanced Equity Income Fund has a 1-year low of $18.03 and a 1-year high of $21.58. The business’s 50 day simple moving average is $19.56 and its 200 day simple moving average is $20.00.

Eaton Vance Enhanced Equity Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.1338 dividend. The ex-dividend date was Friday, May 15th. This represents a c) annualized dividend and a yield of 8.0%.

About Eaton Vance Enhanced Equity Income Fund

The Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of long-term capital appreciation. The fund invests primarily in dividend-paying common stocks of U.S. companies and may also hold preferred stocks and other equity securities. To enhance income potential, the fund employs a covered-call strategy by selling call options on a portion of its equity portfolio.

Under normal market conditions, the fund’s portfolio managers select large- and mid-capitalization equities with the potential for dividend growth and price appreciation.