First Trust Enhanced Equity Income Fund (NYSE:FFA) Share Price Passes Above 50 Day Moving Average – Should You Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $22.55 and traded as high as $22.78. First Trust Enhanced Equity Income Fund shares last traded at $22.70, with a volume of 14,253 shares changing hands.

First Trust Enhanced Equity Income Fund Trading Down 0.4%

The company has a fifty day simple moving average of $22.55 and a 200-day simple moving average of $21.97.

First Trust Enhanced Equity Income Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Monday, June 22nd.

Institutional Investors Weigh In On First Trust Enhanced Equity Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exeter Financial LLC raised its stake in First Trust Enhanced Equity Income Fund by 0.8% during the 1st quarter. Exeter Financial LLC now owns 579,022 shares of the company’s stock worth $11,812,000 after acquiring an additional 4,796 shares during the period. PMG Family Office LLC lifted its holdings in First Trust Enhanced Equity Income Fund by 1.2% during the first quarter. PMG Family Office LLC now owns 57,847 shares of the company’s stock valued at $1,180,000 after purchasing an additional 678 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in First Trust Enhanced Equity Income Fund during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 2,543.3% in the fourth quarter. Global Retirement Partners LLC now owns 24,318 shares of the company’s stock worth $535,000 after purchasing an additional 23,398 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 23.5% in the fourth quarter. International Assets Investment Management LLC now owns 12,792 shares of the company’s stock worth $282,000 after purchasing an additional 2,437 shares during the period.

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.