Eaton Vance Enhanced Equity Income Fund (NYSE:EOI) Shares Up 0.8% – Still a Buy?

Eaton Vance Enhanced Equity Income Fund (NYSE:EOI)’s share price shot up 0.8% on Tuesday . The company traded as high as $20.48 and last traded at $20.4410. 63,768 shares traded hands during trading, a decline of 20% from the average session volume of 79,796 shares. The stock had previously closed at $20.27.

Eaton Vance Enhanced Equity Income Fund Stock Up 0.8%

The company’s 50 day simple moving average is $20.56 and its 200-day simple moving average is $20.61.

Eaton Vance Enhanced Equity Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Tuesday, February 17th will be paid a dividend of $0.1338 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a c) annualized dividend and a yield of 7.9%.

Hedge Funds Weigh In On Eaton Vance Enhanced Equity Income Fund

A number of institutional investors have recently added to or reduced their stakes in EOI. TMB Capital Partners LLC purchased a new stake in shares of Eaton Vance Enhanced Equity Income Fund in the 4th quarter valued at about $223,000. Invesco Ltd. increased its position in shares of Eaton Vance Enhanced Equity Income Fund by 6.4% in the fourth quarter. Invesco Ltd. now owns 459,475 shares of the company’s stock worth $9,447,000 after purchasing an additional 27,719 shares during the last quarter. Readystate Asset Management LP purchased a new stake in Eaton Vance Enhanced Equity Income Fund in the fourth quarter valued at approximately $2,062,000. Cetera Investment Advisers raised its stake in Eaton Vance Enhanced Equity Income Fund by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 86,043 shares of the company’s stock valued at $1,769,000 after purchasing an additional 3,048 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its position in Eaton Vance Enhanced Equity Income Fund by 4.4% during the fourth quarter. Osaic Holdings Inc. now owns 200,999 shares of the company’s stock valued at $4,133,000 after purchasing an additional 8,461 shares during the last quarter.

Eaton Vance Enhanced Equity Income Fund Company Profile

The Eaton Vance Enhanced Equity Income Fund (NYSE: EOI) is a closed-end management investment company that seeks to deliver a high level of current income, with a secondary objective of long-term capital appreciation. The fund invests primarily in dividend-paying common stocks of U.S. companies and may also hold preferred stocks and other equity securities. To enhance income potential, the fund employs a covered-call strategy by selling call options on a portion of its equity portfolio.

Under normal market conditions, the fund’s portfolio managers select large- and mid-capitalization equities with the potential for dividend growth and price appreciation.