First Trust Enhanced Equity Income Fund (NYSE:FFA) Shares Cross Above 50-Day Moving Average – Should You Sell?

Shares of First Trust Enhanced Equity Income Fund (NYSE:FFA) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $22.84 and traded as high as $23.25. First Trust Enhanced Equity Income Fund shares last traded at $23.2050, with a volume of 18,176 shares.

First Trust Enhanced Equity Income Fund Trading Up 0.0%

The company has a 50 day simple moving average of $22.87 and a 200 day simple moving average of $22.21.

First Trust Enhanced Equity Income Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.3875 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $1.55 dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FFA. Kestra Private Wealth Services LLC boosted its stake in First Trust Enhanced Equity Income Fund by 2.2% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 25,257 shares of the company’s stock worth $544,000 after purchasing an additional 533 shares during the last quarter. PMG Family Office LLC grew its holdings in shares of 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 worth $1,180,000 after buying an additional 678 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of First Trust Enhanced Equity Income Fund in the second quarter valued at about $26,000. Osaic Holdings Inc. raised its position in shares of First Trust Enhanced Equity Income Fund by 1.9% in the fourth quarter. Osaic Holdings Inc. now owns 61,789 shares of the company’s stock valued at $1,361,000 after buying an additional 1,146 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund in the fourth quarter worth about $25,000.

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.