First Trust Enhanced Equity Income Fund (NYSE:FFA) Stock Price Down 0.2% – Here’s Why

Shares of First Trust Enhanced Equity Income Fund (NYSE:FFA) dropped 0.2% during mid-day trading on Friday. The company traded as low as $21.80 and last traded at $21.96. Approximately 5,043 shares changed hands during trading, a decline of 81% from the average daily volume of 27,185 shares. The stock had previously closed at $22.01.

First Trust Enhanced Equity Income Fund Stock Down 0.2%

The company has a 50 day simple moving average of $22.38 and a 200-day simple moving average of $22.24.

First Trust Enhanced Equity Income Fund Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new stake in First Trust Enhanced Equity Income Fund in the 3rd quarter valued at approximately $3,040,000. Global Retirement Partners LLC boosted its position in First Trust Enhanced Equity Income Fund by 11.3% during the 3rd quarter. Global Retirement Partners LLC now owns 36,651 shares of the company’s stock worth $815,000 after acquiring an additional 3,732 shares during the last quarter. M Holdings Securities Inc. bought a new position in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter worth approximately $210,000. Kestra Advisory Services LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 27.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,924 shares of the company’s stock worth $399,000 after acquiring an additional 3,863 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of First Trust Enhanced Equity Income Fund by 9.1% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 6,975 shares of the company’s stock worth $155,000 after acquiring an additional 581 shares in the last quarter.

First Trust Enhanced Equity Income Fund Company Profile

First Trust Enhanced Equity Income Fund (NYSE:FFA) is a closed-end management investment company that seeks to provide a high level of current income and long-term capital appreciation. The fund invests primarily in a diversified portfolio of equity securities, with an emphasis on companies that pay dividends. To enhance portfolio income, the fund may use an options strategy, including writing covered call options on individual securities or broad-based equity indexes. This approach is intended to generate option premiums in addition to dividends, while maintaining exposure to the underlying equity markets.