The European Equity Fund, Inc. $EEA Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of The European Equity Fund, Inc. (NYSE:EEA) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 698,796 shares of the financial services provider’s stock after selling 98,274 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 10.43% of The European Equity Fund worth $6,911,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in shares of The European Equity Fund during the fourth quarter worth about $76,000. Spirepoint Private Client LLC bought a new stake in The European Equity Fund in the fourth quarter valued at about $117,000. Citadel Advisors LLC bought a new stake in The European Equity Fund in the third quarter valued at about $158,000. Blue Bell Private Wealth Management LLC raised its stake 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 buying an additional 4,232 shares in the last quarter. Finally, Shaker Financial Services LLC raised its stake 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 buying an additional 56,564 shares in the last quarter. 51.94% of the stock is owned by institutional investors and hedge funds.

The European Equity Fund Stock Down 1.5%

NYSE:EEA opened at $10.72 on Friday. The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $10.64. The European Equity Fund, Inc. has a 52 week low of $9.62 and a 52 week high of $11.43.

The European Equity Fund Increases Dividend

The company also recently declared a dividend, which was paid on Monday, June 29th. Investors of record on Tuesday, May 26th were given a dividend of $0.2199 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a dividend yield of 414.0%. This is an increase from The European Equity Fund’s previous dividend of $0.17.

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.