First Trust Enhanced Equity Income Fund (NYSE:FFA) Sees Significant Growth in Short Interest

First Trust Enhanced Equity Income Fund (NYSE:FFA) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 16,300 shares, an increase of 28.3% from the December 15th total of 12,700 shares. Based on an average daily trading volume, of 25,100 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling

In other news, insider James A. Bowen sold 4,003 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $21.01, for a total value of $84,103.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of First Trust Enhanced Equity Income Fund

Several large investors have recently added to or reduced their stakes in the stock. Moloney Securities Asset Management LLC lifted its holdings in First Trust Enhanced Equity Income Fund by 16.7% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 11,692 shares of the company’s stock worth $238,000 after buying an additional 1,676 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter valued at $242,000. Cornerstone Advisors LLC bought a new stake in First Trust Enhanced Equity Income Fund in the second quarter worth about $259,000. Sanctuary Advisors LLC bought a new stake in shares of First Trust Enhanced Equity Income Fund in the 2nd quarter worth approximately $308,000. Finally, Koshinski Asset Management Inc. increased its holdings in shares of First Trust Enhanced Equity Income Fund by 10.0% in the fourth quarter. Koshinski Asset Management Inc. now owns 15,612 shares of the company’s stock valued at $323,000 after buying an additional 1,418 shares in the last quarter.

First Trust Enhanced Equity Income Fund Stock Performance

Shares of NYSE:FFA traded up $0.15 during trading on Friday, reaching $20.85. The stock had a trading volume of 18,992 shares, compared to its average volume of 27,763. First Trust Enhanced Equity Income Fund has a fifty-two week low of $17.86 and a fifty-two week high of $21.24. The business has a fifty day moving average price of $20.69 and a 200-day moving average price of $20.22.

First Trust Enhanced Equity Income Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 20th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Friday, December 20th.

About First Trust Enhanced Equity Income Fund

First Trust Enhanced Equity Income Fund is a closed-ended equity mutual fund launched and managed by First Trust Advisors L.P. The fund is co-managed by Chartwell Investment Partners, L.P. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across the diversified sectors.