First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Down 0.2% – What’s Next?

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price fell 0.2% during mid-day trading on Friday. The company traded as low as $21.80 and last traded at $21.96. 5,043 shares were traded during trading, a decline of 81% from the average daily volume of 27,185 shares. The stock had previously closed at $22.01.

First Trust Enhanced Equity Income Fund Price Performance

The firm’s 50 day moving average price is $22.38 and its 200-day moving average price is $22.24.

First Trust Enhanced Equity Income Fund Increases Dividend

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

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of FFA. Allied Private Wealth LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund during the 2nd quarter valued at $26,000. Axiom Investment Management LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund in the 1st quarter valued at $118,000. Blue Bell Private Wealth Management LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 9.1% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 6,975 shares of the company’s stock worth $155,000 after purchasing an additional 581 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of First Trust Enhanced Equity Income Fund by 30.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock worth $164,000 after purchasing an additional 1,894 shares during the last quarter. Finally, M Holdings Securities Inc. bought a new position in shares of First Trust Enhanced Equity Income Fund in the 3rd quarter worth $210,000.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund (NYSE:FFA) is a closed-end management investment company that seeks to provide a high level of current income and long-term capital appreciation. The fund invests primarily in a diversified portfolio of equity securities, with an emphasis on companies that pay dividends. To enhance portfolio income, the fund may use an options strategy, including writing covered call options on individual securities or broad-based equity indexes. This approach is intended to generate option premiums in addition to dividends, while maintaining exposure to the underlying equity markets.