The European Equity Fund (NYSE:EEA) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

The European Equity Fund, Inc. (NYSE:EEA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.67 and traded as high as $10.88. The European Equity Fund shares last traded at $10.82, with a volume of 57,973 shares traded.

The European Equity Fund Price Performance

The firm’s 50 day moving average price is $10.74 and its 200-day moving average price is $10.67.

The European Equity Fund Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, December 30th. This represents a dividend yield of 1,462.0%.

Institutional Investors Weigh In On The European Equity Fund

Several hedge funds have recently made changes to their positions in EEA. Allspring Global Investments Holdings LLC grew its holdings in shares of The European Equity Fund by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 795,122 shares of the financial services provider’s stock worth $8,619,000 after purchasing an additional 100,500 shares in the last quarter. Shaker Financial Services LLC lifted its position in The European Equity Fund by 13.9% in the second quarter. Shaker Financial Services LLC now owns 447,331 shares of the financial services provider’s stock worth $4,576,000 after purchasing an additional 54,759 shares during the period. Wolverine Asset Management LLC acquired a new stake in The European Equity Fund during the fourth quarter worth $76,000. Citadel Advisors LLC bought a new stake in The European Equity Fund in the 3rd quarter valued at $158,000. Finally, Spirepoint Private Client LLC bought a new stake in The European Equity Fund in the 4th quarter valued at $117,000. 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.