Short Interest in The European Equity Fund, Inc. (NYSE:EEA) Grows By 285.4%

The European Equity Fund, Inc. (NYSE:EEA) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 5,407 shares, a growth of 285.4% from the May 31st total of 1,403 shares. Based on an average daily trading volume, of 60,698 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On The European Equity Fund

Several large investors have recently modified their holdings of EEA. Wolverine Asset Management LLC bought a new stake in shares of The European Equity Fund in the 4th quarter valued at about $76,000. Spirepoint Private Client LLC bought a new position in shares of The European Equity Fund during the fourth quarter valued at approximately $117,000. Citadel Advisors LLC purchased a new position in The European Equity Fund during the third quarter valued at approximately $158,000. Blue Bell Private Wealth Management LLC increased its holdings in The European Equity Fund by 18.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 27,146 shares of the financial services provider’s stock valued at $280,000 after buying an additional 4,232 shares during the period. Finally, Shaker Financial Services LLC raised its stake in The European Equity Fund by 12.7% in the fourth quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider’s stock worth $5,557,000 after buying an additional 56,564 shares in the last quarter. Institutional investors own 51.94% of the company’s stock.

The European Equity Fund Stock Performance

Shares of The European Equity Fund stock traded down $0.05 during trading on Friday, hitting $10.78. 75,436 shares of the stock traded hands, compared to its average volume of 45,485. The European Equity Fund has a 52-week low of $9.62 and a 52-week high of $11.43. The stock’s fifty day simple moving average is $10.66 and its 200 day simple moving average is $10.62.

The European Equity Fund Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 29th. Shareholders of record on Tuesday, May 26th will be issued a dividend of $0.2199 per share. This represents a yield of 414.0%. The ex-dividend date is Tuesday, May 26th. This is a positive change from The European Equity Fund’s previous dividend of $0.17.

The European Equity Fund Company Profile

The European Equity Fund, Inc (NYSE: EEA) is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in the equity securities of issuers located in European countries. Listed on the New York Stock Exchange, the Fund offers U.S. and international investors access to a diversified portfolio of publicly traded European companies, spanning a variety of industries and market capitalizations.

The Fund’s investment strategy is built on fundamental, bottom-up research and active portfolio management.