First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Up 1,237.7% in July

First Trust Enhanced Equity Income Fund (NYSE:FFA) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 24,038 shares, an increase of 1,237.7% from the June 30th total of 1,797 shares. Based on an average trading volume of 24,216 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of First Trust Enhanced Equity Income Fund

Several institutional investors have recently modified their holdings of the company. Shaker Financial Services LLC grew its holdings in First Trust Enhanced Equity Income Fund by 16.8% during the fourth quarter. Shaker Financial Services LLC now owns 286,580 shares of the company’s stock worth $6,310,000 after acquiring an additional 41,233 shares during the period. Readystate Asset Management LP acquired a new stake in First Trust Enhanced Equity Income Fund during the 4th quarter worth about $844,000. Invesco Ltd. lifted its position in shares of First Trust Enhanced Equity Income Fund by 8.7% in the 4th quarter. Invesco Ltd. now owns 415,134 shares of the company’s stock valued at $9,141,000 after acquiring an additional 33,158 shares in the last quarter. Aurora Private Wealth Inc. acquired a new stake in shares of First Trust Enhanced Equity Income Fund in the fourth quarter worth $534,000. Finally, Global Retirement Partners LLC grew its stake in First Trust Enhanced Equity Income Fund by 2,543.3% during the 4th quarter. Global Retirement Partners LLC now owns 24,318 shares of the company’s stock valued at $535,000 after acquiring an additional 23,398 shares in the last quarter.

First Trust Enhanced Equity Income Fund Price Performance

Shares of NYSE:FFA traded down $0.07 during trading hours on Friday, hitting $22.38. The stock had a trading volume of 27,892 shares, compared to its average volume of 28,845. First Trust Enhanced Equity Income Fund has a 1-year low of $19.50 and a 1-year high of $23.24. The stock’s fifty day simple moving average is $22.55 and its 200 day simple moving average is $21.97.

First Trust Enhanced Equity Income Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Monday, June 22nd.

First Trust Enhanced Equity Income Fund Company Profile

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.