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

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 11,248 shares, an increase of 39.9% from the February 26th total of 8,038 shares. Based on an average daily trading volume, of 21,136 shares, the days-to-cover ratio is presently 0.5 days.

First Trust Enhanced Equity Income Fund Price Performance

Shares of First Trust Enhanced Equity Income Fund stock opened at $19.56 on Tuesday. The business’s 50 day simple moving average is $21.53 and its 200 day simple moving average is $21.61. First Trust Enhanced Equity Income Fund has a 52-week low of $15.00 and a 52-week high of $22.31.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 20th will be issued a $0.3875 dividend. The ex-dividend date is Friday, March 20th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 7.9%.

Institutional Trading of First Trust Enhanced Equity Income Fund

Institutional investors have recently made changes to their positions in the business. Exeter Financial LLC grew its position in First Trust Enhanced Equity Income Fund by 2.8% in the fourth quarter. Exeter Financial LLC now owns 574,226 shares of the company’s stock valued at $12,644,000 after purchasing an additional 15,837 shares in the last quarter. Wells Fargo & Company MN increased its stake in First Trust Enhanced Equity Income Fund by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 509,613 shares of the company’s stock valued at $11,222,000 after buying an additional 5,162 shares during the last quarter. Invesco Ltd. lifted its position in First Trust Enhanced Equity Income Fund by 8.7% during the 4th quarter. Invesco Ltd. now owns 415,134 shares of the company’s stock worth $9,141,000 after buying an additional 33,158 shares in the last quarter. Shaker Financial Services LLC lifted its position in First Trust Enhanced Equity Income Fund by 16.8% during the 4th quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock worth $6,310,000 after buying an additional 41,233 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of First Trust Enhanced Equity Income Fund by 1.3% during the 4th quarter. UBS Group AG now owns 276,052 shares of the company’s stock worth $6,079,000 after buying an additional 3,556 shares during the last quarter.

About First Trust Enhanced Equity Income Fund

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.