First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Large Drop in Short Interest

First Trust Enhanced Equity Income Fund (NYSE:FFA) saw a large drop in short interest in March. As of March 31st, there was short interest totaling 5,463 shares, a drop of 51.4% from the March 15th total of 11,248 shares. Based on an average daily volume of 38,802 shares, the short-interest ratio is currently 0.1 days.

First Trust Enhanced Equity Income Fund Stock Performance

NYSE:FFA opened at $21.11 on Friday. First Trust Enhanced Equity Income Fund has a twelve month low of $17.46 and a twelve month high of $22.31. The company has a 50-day moving average of $21.32 and a 200-day moving average of $21.56.

First Trust Enhanced Equity Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 20th were given a dividend of $0.3875 per share. The ex-dividend date of this dividend was Friday, March 20th. This represents a $1.55 dividend on an annualized basis and a yield of 7.3%.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC boosted its stake in First Trust Enhanced Equity Income Fund by 2.2% during the third quarter. Kestra Private Wealth Services LLC now owns 25,257 shares of the company’s stock worth $544,000 after buying an additional 533 shares in the last quarter. Osaic Holdings Inc. boosted its stake in First Trust Enhanced Equity Income Fund by 1.1% during the second quarter. Osaic Holdings Inc. now owns 60,048 shares of the company’s stock worth $1,230,000 after buying an additional 659 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in First Trust Enhanced Equity Income Fund by 0.8% during the third quarter. Wolverine Asset Management LLC now owns 94,167 shares of the company’s stock worth $2,026,000 after buying an additional 785 shares in the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in First Trust Enhanced Equity Income Fund during the fourth quarter worth $25,000. Finally, Compound Planning Inc. boosted its stake in First Trust Enhanced Equity Income Fund by 4.1% during the third quarter. Compound Planning Inc. now owns 29,924 shares of the company’s stock worth $644,000 after buying an additional 1,176 shares in the last quarter.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund (NYSE:FFA) is a closed-end management investment company managed by First Trust Advisors L.P. The fund seeks to provide total return with an emphasis on current income. To pursue its objective, the fund employs a dual strategy that combines equity ownership in U.S. companies with a systematic covered call option overlay.

FFA primarily invests in a diversified portfolio of common stocks of large- and mid-cap U.S. companies that are selected for their potential to pay dividends.