First Trust Enhanced Equity Income Fund (NYSE:FFA) Announces Dividend Increase – $0.42 Per Share

First Trust Enhanced Equity Income Fund (NYSE:FFA) declared a quarterly dividend on Thursday, September 10th. Stockholders of record on Tuesday, September 22nd will be given a dividend of 0.425 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Tuesday, September 22nd. This is a 9.7% increase from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.39.

First Trust Enhanced Equity Income Fund Stock Down 0.6%

FFA stock opened at $22.89 on Friday. First Trust Enhanced Equity Income Fund has a fifty-two week low of $19.50 and a fifty-two week high of $23.82. The business has a 50-day moving average of $22.97 and a 200-day moving average of $22.25.

Institutional Trading of First Trust Enhanced Equity Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Readystate Asset Management LP acquired a new stake in shares of First Trust Enhanced Equity Income Fund during the 4th quarter worth about $844,000. Invesco Ltd. grew its stake in 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 buying an additional 33,158 shares during the last quarter. Global Retirement Partners LLC acquired a new position in First Trust Enhanced Equity Income Fund in the 2nd quarter valued at about $736,000. Bank of America Corp DE bought a new position in First Trust Enhanced Equity Income Fund in the 2nd quarter valued at about $480,000. Finally, Truist Financial Corp lifted its position in First Trust Enhanced Equity Income Fund by 28.3% during the fourth quarter. Truist Financial Corp now owns 78,546 shares of the company’s stock worth $1,730,000 after acquiring an additional 17,323 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.