First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s stock price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $22.98 and traded as low as $21.97. First Trust Enhanced Equity Income Fund shares last traded at $22.12, with a volume of 46,568 shares traded.

First Trust Enhanced Equity Income Fund Trading Down 0.1%

The company’s 50-day simple moving average is $22.97 and its 200 day simple moving average is $22.34.

First Trust Enhanced Equity Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were paid a $0.4250 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Tuesday, September 22nd. This is a positive change from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FFA. Exeter Financial LLC boosted its holdings in First Trust Enhanced Equity Income Fund by 0.8% during the first quarter. Exeter Financial LLC now owns 579,022 shares of the company’s stock valued at $11,812,000 after acquiring an additional 4,796 shares during the period. Royal Bank of Canada lifted its holdings in shares of First Trust Enhanced Equity Income Fund by 6.2% during the first quarter. Royal Bank of Canada now owns 260,072 shares of the company’s stock worth $5,305,000 after buying an additional 15,241 shares during the last quarter. PMG Family Office LLC boosted its position in shares of First Trust Enhanced Equity Income Fund by 1.2% in the first quarter. PMG Family Office LLC now owns 57,847 shares of the company’s stock valued at $1,180,000 after acquiring an additional 678 shares during the period. Waverly Advisors LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 7.0% in the first quarter. Waverly Advisors LLC now owns 48,892 shares of the company’s stock worth $997,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in First Trust Enhanced Equity Income Fund during the second quarter worth $736,000.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol FFA. The fund is designed to provide investors with current income and long-term capital appreciation through an actively managed portfolio of equity securities.

The fund generally invests in dividend-paying common stocks of established companies across a range of industries. To enhance portfolio income, it may use an options strategy that includes writing covered call options on selected holdings.