The European Equity Fund (NYSE:EEA) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

The European Equity Fund, Inc. (NYSE:EEA)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.66 and traded as low as $9.80. The European Equity Fund shares last traded at $9.9850, with a volume of 111,137 shares.

The European Equity Fund Stock Up 0.2%

The company has a 50 day moving average price of $10.55 and a 200-day moving average price of $10.66.

Hedge Funds Weigh In On The European Equity Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of The European Equity Fund by 14.5% during the third 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 during the period. Spirepoint Private Client LLC bought a new stake in shares of The European Equity Fund in the fourth quarter worth $117,000. Shaker Financial Services LLC grew its stake in shares of 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 purchasing an additional 56,564 shares during the last quarter. Citadel Advisors LLC acquired a new stake in The European Equity Fund in the third quarter valued at $158,000. Finally, Blue Bell Private Wealth Management LLC increased its holdings in The European Equity Fund by 18.5% in 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 during the period. 51.94% of the stock is currently owned by institutional investors and hedge funds.

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.