First Trust Enhanced Equity Income Fund (NYSE:FFA) Shares Cross Above 50 Day Moving Average – Time to Sell?

First Trust Enhanced Equity Income Fund (NYSE:FFA)’s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $22.11 and traded as high as $22.54. First Trust Enhanced Equity Income Fund shares last traded at $22.28, with a volume of 17,049 shares traded.

First Trust Enhanced Equity Income Fund Stock Performance

The stock’s 50-day simple moving average is $22.19 and its 200 day simple moving average is $21.83.

First Trust Enhanced Equity Income Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.3875 per share. The ex-dividend date is Monday, June 22nd. This represents a $1.55 dividend on an annualized basis and a yield of 6.9%.

Hedge Funds Weigh In On First Trust Enhanced Equity Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund during the 4th quarter worth $25,000. Global Assets Advisory LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund during the 1st quarter worth $41,000. Axiom Investment Management LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund during the 1st quarter worth $118,000. PNC Financial Services Group Inc. grew its stake in shares of First Trust Enhanced Equity Income Fund by 30.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the company’s stock worth $164,000 after purchasing an additional 1,894 shares during the period. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of First Trust Enhanced Equity Income Fund during the 3rd quarter worth $172,000.

First Trust Enhanced Equity Income Fund Company Profile

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.