The European Equity Fund, Inc. (NYSE:EEA) Sees Significant Growth in Short Interest

The European Equity Fund, Inc. (NYSE:EEA) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 7,413 shares, a growth of 112.3% from the June 30th total of 3,491 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 40,541 shares, the short-interest ratio is currently 0.2 days.

The European Equity Fund Price Performance

Shares of EEA traded up $0.27 during mid-day trading on Thursday, hitting $11.06. The company’s stock had a trading volume of 18,045 shares, compared to its average volume of 28,615. The company’s 50-day moving average is $10.81 and its 200-day moving average is $10.65. The European Equity Fund has a 52-week low of $9.62 and a 52-week high of $11.43.

The European Equity Fund Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 29th. Investors of record on Tuesday, May 26th were paid a $0.2199 dividend. This represents a yield of 414.0%. This is a positive change from The European Equity Fund’s previous dividend of $0.17. The ex-dividend date of this dividend was Tuesday, May 26th.

Institutional Trading of The European Equity Fund

A number of hedge funds have recently bought and sold shares of EEA. Wolverine Asset Management LLC purchased a new position in shares of The European Equity Fund in the 4th quarter valued at $76,000. Spirepoint Private Client LLC purchased a new stake in shares of The European Equity Fund during the 4th quarter worth $117,000. Citadel Advisors LLC bought a new stake in The European Equity Fund during the third quarter valued at about $158,000. Blue Bell Private Wealth Management LLC boosted its position 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 purchasing an additional 4,232 shares in the last quarter. Finally, Shaker Financial Services LLC boosted its position in The European Equity Fund by 12.7% during the fourth quarter. Shaker Financial Services LLC now owns 502,117 shares of the financial services provider’s stock valued at $5,557,000 after purchasing an additional 56,564 shares in the last quarter. Hedge funds and other institutional investors own 51.94% of the company’s stock.

About The European Equity Fund

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.