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

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totaling 9,571 shares, a drop of 42.7% from the April 15th total of 16,713 shares. Based on an average daily volume of 21,784 shares, the days-to-cover ratio is currently 0.4 days.

First Trust Enhanced Equity Income Fund Price Performance

NYSE FFA traded down $0.20 during mid-day trading on Friday, reaching $22.51. 28,781 shares of the company’s stock traded hands, compared to its average volume of 29,190. First Trust Enhanced Equity Income Fund has a 1-year low of $19.21 and a 1-year high of $22.78. The company has a fifty day simple moving average of $21.40 and a 200-day simple moving average of $21.67.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th were paid a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Friday, March 20th.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Hedge funds have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC acquired a new stake in First Trust Enhanced Equity Income Fund during the 4th quarter valued at approximately $25,000. Global Assets Advisory LLC acquired a new stake in First Trust Enhanced Equity Income Fund during the 1st quarter valued at approximately $41,000. EverSource Wealth Advisors LLC acquired a new stake in First Trust Enhanced Equity Income Fund during the 3rd quarter valued at approximately $172,000. PNC Financial Services Group Inc. grew its stake in First Trust Enhanced Equity Income Fund by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock valued at $164,000 after purchasing an additional 1,894 shares in the last quarter. Finally, Stifel Financial Corp acquired a new stake in First Trust Enhanced Equity Income Fund during the 4th quarter valued at approximately $224,000.

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.