Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Stock Price Up 0.8% – Still a Buy?

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI)’s stock price was up 0.8% during trading on Tuesday . The stock traded as high as $20.48 and last traded at $20.4410. Approximately 63,768 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 79,796 shares. The stock had previously closed at $20.27.

Eaton Vance Enhanced Equity Income Fund Price Performance

The business’s 50-day simple moving average is $20.59 and its two-hundred day simple moving average is $20.61.

Eaton Vance Enhanced Equity Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be given a dividend of $0.1338 per share. The ex-dividend date is Tuesday, February 17th. This represents a c) dividend on an annualized basis and a yield of 7.8%.

Institutional Trading of Eaton Vance Enhanced Equity Income Fund

A number of hedge funds have recently made changes to their positions in the company. Focus Partners Wealth bought a new position in Eaton Vance Enhanced Equity Income Fund in the 4th quarter valued at approximately $16,037,000. Bank of America Corp DE raised its stake in shares of Eaton Vance Enhanced Equity Income Fund by 2.6% during the third quarter. Bank of America Corp DE now owns 590,245 shares of the company’s stock valued at $12,395,000 after acquiring an additional 15,180 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Eaton Vance Enhanced Equity Income Fund by 3.8% during the fourth quarter. Wells Fargo & Company MN now owns 513,967 shares of the company’s stock worth $10,567,000 after purchasing an additional 18,910 shares during the period. Invesco Ltd. lifted its holdings in shares of Eaton Vance Enhanced Equity Income Fund by 6.4% during the fourth quarter. Invesco Ltd. now owns 459,475 shares of the company’s stock worth $9,447,000 after purchasing an additional 27,719 shares during the period. Finally, Guggenheim Capital LLC grew its stake in shares of Eaton Vance Enhanced Equity Income Fund by 11.9% in the second quarter. Guggenheim Capital LLC now owns 355,825 shares of the company’s stock worth $7,444,000 after purchasing an additional 37,911 shares during the last quarter.

Eaton Vance Enhanced Equity Income Fund Company Profile

The Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of long-term capital appreciation. The fund invests primarily in dividend-paying common stocks of U.S. companies and may also hold preferred stocks and other equity securities. To enhance income potential, the fund employs a covered-call strategy by selling call options on a portion of its equity portfolio.

Under normal market conditions, the fund’s portfolio managers select large- and mid-capitalization equities with the potential for dividend growth and price appreciation.