First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA) shares crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $22.96 and traded as low as $22.05. First Trust Enhanced Equity Income Fund shares last traded at $22.40, with a volume of 54,497 shares changing hands.

First Trust Enhanced Equity Income Fund Trading Up 1.3%

The company has a fifty day moving average price of $22.95 and a 200 day moving average price of $22.40.

First Trust Enhanced Equity Income Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 22nd were given a dividend of $0.4250 per share. The ex-dividend date was Tuesday, September 22nd. This is a boost from First Trust Enhanced Equity Income Fund’s previous quarterly dividend of $0.3875. This represents a $1.70 annualized dividend and a yield of 7.5%.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Institutional investors have recently made changes to their positions in the stock. Exeter Financial LLC lifted its holdings in shares of 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 last quarter. Royal Bank of Canada lifted its stake in 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 purchasing an additional 15,241 shares during the last quarter. PMG Family Office LLC boosted its holdings in shares of First Trust Enhanced Equity Income Fund by 1.2% in the 1st quarter. PMG Family Office LLC now owns 57,847 shares of the company’s stock worth $1,180,000 after purchasing an additional 678 shares in the last quarter. Waverly Advisors LLC increased its position in shares of First Trust Enhanced Equity Income Fund by 7.0% during the 1st quarter. Waverly Advisors LLC now owns 48,892 shares of the company’s stock valued at $997,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund during the 2nd quarter valued at about $736,000.

First Trust Enhanced Equity Income Fund Company Profile

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.