First Trust Enhanced Equity Income Fund (NYSE:FFA) Short Interest Down 42.5% in May

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 4,297 shares, a drop of 42.5% from the May 14th total of 7,470 shares. Based on an average trading volume of 29,084 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC grew its position in shares of First Trust Enhanced Equity Income Fund by 2.2% during the third quarter. Kestra Private Wealth Services LLC now owns 25,257 shares of the company’s stock valued at $544,000 after purchasing an additional 533 shares in the last quarter. PMG Family Office LLC grew its position 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 valued at $1,180,000 after purchasing an additional 678 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of First Trust Enhanced Equity Income Fund by 1.9% during the fourth quarter. Osaic Holdings Inc. now owns 61,789 shares of the company’s stock valued at $1,361,000 after purchasing an additional 1,146 shares in the last quarter. Blue Bell Private Wealth Management LLC purchased a new position in shares of First Trust Enhanced Equity Income Fund during the fourth quarter valued at about $25,000. Finally, Compound Planning Inc. grew its position in shares of First Trust Enhanced Equity Income Fund by 4.1% during the third quarter. Compound Planning Inc. now owns 29,924 shares of the company’s stock valued at $644,000 after purchasing an additional 1,176 shares in the last quarter.

First Trust Enhanced Equity Income Fund Price Performance

NYSE:FFA traded down $0.14 on Tuesday, reaching $22.52. 23,513 shares of the company’s stock traded hands, compared to its average volume of 29,345. The stock has a 50-day simple moving average of $22.27 and a 200-day simple moving average of $21.84. First Trust Enhanced Equity Income Fund has a 12 month low of $19.50 and a 12 month high of $23.24.

First Trust Enhanced Equity Income Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.3875 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 6.9%.

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.